□ On July 13, Korea Eximbank (www.koreaexim.go.kr, Chairman Yong Hwan Kim) concluded an MOU with ADB for co-finance of Asian private investment infrastructure projects.

○ This MOU, signed by Chairman Kim and Lakshmi Venkatachalam, Vice President of ADB, entails co-financing for projects awarded to Korean companies or participated by Korean companies as project sponsors. The MOU also details the hosting of semi-annual meetings for information sharing and discussion of support plans.

□ With increasing demand for infrastructure development in Asia, Korean companies with their advanced technologies and expertise are anticipated to expand project participation thanks to greater financial resources and more diverse methods of project participation.

* According to ADB, the demand for infrastructure development in Asia is anticipated to reach USD 8 trillion from 2010 to 2020 (energy production 51%,ICT 13%, roads 31%, water treatment 5%).

○ Korea Eximbank plans to provide co-financing of USD 2.5 billion over the next three years through loans, guarantees, and equity investment for Korean companies participating in infrastructure projects in Asia related to power, resource development, water resources, airports, and ports.

□ An official from Korea Eximbank stated, “This MOU is the first concrete result of the Global Conference held on June 23. As Korean companies will have early access to information about projects supported by the ADB, there will be greater opportunities for Korean companies for project participation. In addition, the bank will strengthen networks with leading financial institutions to meet the financial needs of companies expanding into overseas markets.”

□ In the second half of this year, Korea Eximbank plans to enter into an MOU with the International Finance Corporation of the World Bank as part of the bank’s efforts to strengthen its international network.