Business · Companies · 1 hr ago
South Korea and IFC plan wider financing cooperation
South Korea’s Export-Import Bank chief met the IFC president in Bangkok during the IMF and World Bank annual meetings.
The two institutions have worked together on large infrastructure and energy projects in developing countries.
They agreed to widen cooperation as global supply chains and industries change.
Their focus will include critical minerals, green industries and artificial intelligence.
The financing could support strategic sectors as countries respond to those shifts.
On October 15, the bank chief also discussed cooperation with the UK Export Finance chief on decarbonization, critical minerals and defense.
The institutions plan to strengthen financial cooperation in these areas.
South Korea’s Export-Import Bank and the International Finance Corporation agreed to expand their financial cooperation.
They discussed financing in strategic sectors including critical minerals, green industries and artificial intelligence.
The institutions cited their past cooperation on major infrastructure and energy projects in developing countries.
Their meeting took place in Bangkok on the sidelines of the IMF and World Bank annual meetings.
- Who
- Hwang Ki-yeon, head of South Korea’s Export-Import Bank, and IFC President Makhtar Diop.
- What
- They discussed expanding financial cooperation, including in critical minerals, green industries and artificial intelligence.
- When
- On the sidelines of the IMF and World Bank annual meetings; the meeting date was not stated.
- Where
- Bangkok, Thailand.
- Why
- To respond to changes in global supply chains and industrial structures.
This story does not have two clearly opposing sides.
Hwang met UK Export Finance chief Tim Reid to discuss expanding financial cooperation in areas including decarbonisation, critical minerals and defence.
South Korea’s Export-Import Bank said Hwang had met IFC President Makhtar Diop in Bangkok and discussed expanding cooperation.
- Institutions
- South Korea’s Export-Import Bank and the International Finance Corporation
- Meeting place
- Bangkok, Thailand
- Prior cooperation
- Major infrastructure and energy projects in developing countries
- Strategic sectors
- Critical minerals, green industries and artificial intelligence
- Earlier meeting
- October 15, with UK Export Finance chief Tim Reid