□ On its part, Korea Eximbank backed the consortium with its competitive financial scheme for the consortium's successful bid for the project in Panama.
□ To that end, Korea Eximbank issued a "Financial Support Letter," the most competitive financial condition offered by among the lender group, aiming to boost the competitiveness of the Hyundai E&C-led consortium in the bidding process.
□ Korea Eximbank will purchase $760 million worth of export bonds over the next five years to help the consortium collect construction costs early.
ㅇ More than 10 financial institutions, including Korea EximBank, Panama National Bank and International Commercial Bank, will participate in the project, with a total purchase amount of $2.7 billion.
□ "We expect that this newly introduced financing method of purchasing mid- to long-term export bonds will greatly help domestic companies win infrastructure projects in Latin America by boosting their financial competitiveness in the market, which has so far been dominated by Spanish and Chinese construction companies," said an official of Korea Eximbank.
□ Upon completion, the Panama Metro Line 3 project is expected to reduce carbon dioxide emissions by 20,000 tons per year, and will also contribute significantly to the Panama government's achievement of carbon neutrality targets by 2050.