The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Choi JongKu, “Korea Eximbank”) announced on April 4 that it held an event to promote its Interbank Credit Facility program jointly with Korea Trade-Investment Promotion Agency ("KOTRA") at the headquarters of Banco Industrial, the biggest commercial bank in Guatemala.

 -  The Interbank Credit Facility program is a financial arrangement whereby Korea Eximbank extends a credit line to a foreign bank from which the foreign bank draws fund to lend to its local corporate clients for their payment for products imported from Korea or procurement from Korean subsidiaries in their country, or to a Korean subsidiary for the capital needed for operating business in the local country.

  Korea Eximbank had established a credit line of the Interbank Credit Facility amounting to USD 30 million with Banco Industrial in December last year.

 Korea Eximbank invited 70 local importers of Korean products and Korean subsidiaries in Guatemala to the event to market its loan service. In addition to promoting the Interbank Credit Facility program, the Bank provided consultation on how to apply for the loans jointly with KOTRA.

 Last year, Korea Eximbank signed a Memorandum of Understanding with KOTRA to jointly promote its Interbank Credit Facility program. Following the MOU, the Bank and KOTRA have been co-hosting events for local importers and Korean subsidiaries operating in Mexico, Vietnam, Panama, Peru, Turkey, etc.