On May 4, the Export-Import Bank of Korea, entrusted by the government with the operation of the Inter-Korean Cooperation Fund, notified the President of Chosun Trade Bank that the first payment for the food loan will be due on June 7.

A notification specifying the due date and repayment amount of the first payment was provided to the North, i.e., the President of Chosun Trade Bank, at the working-level.

Since signing the agreement for provision of a food loan in 2000, the Korean government has provided North Korea with 2.6 million tons of rice and corn equivalent to USD 720 million, in six installments over a period of seven years.

USD 5.83 million is the amount due as the first repayment on a USD 88 million loan initiated in 2000.