The Export-Import Bank of Korea( www.koreaexim.go.kr, Chairman Lee Duk-hoon, "Korea Eximbank") announced on June 9 that Korea Eximbank will provide a 19 million EDCF* loan to fund Vietnam's 'Medical Equipment Supply to National ENT (Ear, Nose and Throat) Hospital Project'.

* The Economic Development Cooperation Fund (EDCF) was established by the Korean government in 1987 to promote economic exchanges with the developing world and to assist developing countries in achieving industrialization and economic stability through the provision of long-term, low-interest credit. Korea Eximbank currently manages the fund as its trustee.

Executive Director and Head of EDCF Operations Group Yim Seong-hyeog met with General Director Nguyen Thanh Do of the Vietnamese Ministry of Finance and signed the loan agreement for the projects at the Ministry of Finance in Hanoi.

The project is aimed at improving the quality and coverage of medical services in Vietnam by supplying cutting-edge medical equipment to the country's National ENT Hospital, which recently has been upgraded to a 400-bed hospital.

Outbreaks of ENT-related illnesses are on the rise in Vietnam, as a result of serious air pollution caused by the continued increase in the number of motorcycles as a popular means of transportation.

The project will involve a number of Korean SMEs in the medical equipment sector.

The Korean government has provided a total of USD 174 million in EDCF loans to support 11 Vietnamese projects in the healthcare sector, starting with a vaccine production plant construction project in 1999.

After the signing ceremony, Executive Director Yim and General Director Nguyen also exchanged views on the agenda for the upcoming 'Korea-Vietnam ODA Policy Dialogue'.

Executive Director Yim observed, "Korean SMEs and medium-large businesses enjoy a comparative advantage in the medical equipment sector. I hope this project would accelerate the entry of Korean firms into the Southeast Asian medical equipment market."