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The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman EUN, Sung-soo, “Korea Eximbank”) announced on May 23 that it would provide a USD 88.5 million EDCF loan for the Establishment of the National Oncology Center Project in Senegal.
Korea Eximbank Chairman Sung-soo Eun met with Senegalese Ambassador to Korea, Mamadou Gueye Faye and signed the loan agreement on the sidelines of the Korea-Africa Economic Cooperation 2018 (“KOAFEC”) held at BEXCO in Busan.
Upon completion of this project, the center is expected to be the first hospital specializing in cancer treatment in Senegal with Korea’s high-end medical equipment and skills for cancer treatment fully transferred to the country. Moreover, it will support the entry of Korean companies into the African medical market.
As Senegal is expected to record the economic growth rate of 7.0% in 2018, a highest figure achieved among Sub-Saharan African countries, it will likely serve as a bridgehead for further economic cooperation between Korea and Africa and advancement of Korean firms into the region.