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About the Bank

EDCF Loan to Jordan Research-and-Training Reactor Construction Project

  • Date2015.10.29
  • View26400

The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-Hoon, "Korea Eximbank") announced on October 29 that it will provide a USD 12.8 million EDCF* loan to fund the "Jordan Research-and-Training Reactor Construction Project."

 

* The Economic Development Cooperation Fund (EDCF) was established by the Korean government in 1987 to assist developing countries in achieving industrialization and economic stability, and to promote economic exchanges between Korea and these countries through the provision of long-term, low-interest credit. Currently, Korea Eximbank manages the fund as its trustee.

 

Korea Eximbank Executive Director Yim Seong-hyeog met with Minister of Planning and International Cooperation Imad N. Fakhoury on October 28 and signed the loan agreement in the Government office in Jordan.

 

Korea Eximbank had formerly provided a USD 70 million EDCF loan to the first Jordan Research-and-Training Reactor Construction Project in 2010.

 

With the support by the EDCF for this project, it is expected that the excellence of Korea's nuclear reactors will be demonstrated and it will, in turn, positively affect Korean companies to win the bids for subsequent contracts to this nuclear reactor project.

 

Executive Director Yim said that the EDCF loan would "strengthen the friendly relations and economic cooperation between our two nations." He added, "Korea Eximbank will establish a closer relationship with the Jordanian government and actively support various fields discussed during the summit between the two heads of the states last September."

 

Korea Eximbank will also hold the completion ceremony for 'South Amman Wastewater Treatment Facility Construction Project' in Amman, the capital of Jordan on October 29.

 

This project, funded by USD 52.9 million EDCF loan, is expected to greatly contribute to the improvement of sanitation and living environment, and increase agricultural productivity by using the water recycled in the facility for agricultural use.

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