Korea Eximbank opens Accra office
- B&FT Online
- Jun 2, 2015
- 2 min read
Korea Eximbank, a core policy bank of the Republic of Korea last week held the opening ceremony of its Accra Representative Office at the Movenpick Ambassador Hotel.
It will be recalled that the bank got its final approval for the Accra Representative Office from the Bank of Ghana on 4th February, 2015.
Korea Eximbank provides comprehensive export loan and guarantee programmes with pure sovereign status to support Korean exporters, sponsors, investors conducting overseas business, and facilitate Korean economic cooperation with foreign countries.
Mr. Yim Seong-hyeog, Executive Director of Korea Eximbank, expressed deep gratitude to the Ghanaian government for supporting the establishment of Korea Eximbank's Office, and at the opening ceremony highlighted that Korea can become a good economic partner to Ghana by maximising each other's merits.
“I expect that Korea Eximbank's Accra Representative Office will contribute to enhancing mutual economic cooperation between Ghana and Korea,” he said.
The bank is responsible for operating the Economic Development Cooperation Fund (EDCF), a Korean Official Development Assistance (ODA) programme, with the purpose of promoting economic cooperation between Korea and partner countries.
The bank strives to become "The global financial partner connecting Korea to the world" as formulated in its vision, by continuously fostering innovation and growth throughout its operations.
Korea Eximbank has supported 5 projects amounting to 180 million US dollars in Ghana since 1990 through the EDCF programme.
Currently, Ghana and Korea are working on concluding a Framework Arrangement concerning EDCF provision that will enable the Ghanaian government to obtain concessional loans of up to 200million dollars for 3 years to finance EDCF loan projects. It is known that the terms and conditions of the facility are very concessional, and it could be widely utilised for Ghana’s other infrastructural development projects
Mr. Lyeo Woon-Ki, Ambassador of Korea and Deputy Minister Mr. Cassiel Ato Forson of the Ministry of Finance made congratulatory speeches at the opening ceremony.
Participants at the ceremony included First Deputy Governor, Mr. Millison K. Narh, Bank of Ghana; Mr. Koji Markino, Chief Executive JICA; Mr. William Amuna, CEO of GRIDCO; and Mr. Hwa-Ryun Na, President of the Korean Community in Ghana.
Source: Thebftonline.com
