The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman BANG, Moon-kyu, “Korea Eximbank”) and the Korea Foundation for International Healthcare (President CHOO, Moo-jin,“KOFIH”) joined hands to provide effective support for health and medical aid projects to developing countries.

Chairman Bang and President Choo signed an MOU for International Development Cooperation focusing on the medical and healthcare sector, at the headquarters of Korea Eximbank in Yeouido, Seoul.

The MOU sets out mutual cooperation between the institutions in identifying, implementing, and managing projects in the health and medical sector throughout the whole project cycle, as part of their international development cooperation efforts; development of effective financing models linking between loans and grants; and regularizing consultation and information exchange.

The Economic Development Cooperation Fund (EDCF) operated by Korea Eximbank has rich experience in providing development finance for infrastructure projects through financial cooperation, including construction of hospitals, supply of medical equipment and devices, and introduction of health and medical systems, while KOFIH specializes in extending medical assistance through technical cooperation in areas such as project identification, O&M and capacity building.

The two institutions have so far cooperated on 13 projects in seven countries. With the signing of the MOU, they will jointly participate in healthcare infrastructure projects from the early stage of project development to EDCF’s financial support and KOFIH’s technical support in operation and management of the projects.

At the signing ceremony, Korea Eximbank Chairman Bang said, “This MOU will serve as an opportunity to greatly contribute to the achievement of SDGs and the development of infrastructure in developing countries by enhancing the aid effectiveness. And at the same time, it will increase the awareness of Korea's advanced health and medical systems in the international development arena.”