Korea Eximbank has opened a representative office in Accra after the Bank of Ghana in principle approved the office’s establishment. It will be located at the Gulf House, Adamafio Crescent, Accra.
Korea Eximbank is a core policy bank of the Republic of Korea, providing comprehensive export loan and guarantee programmes with pure sovereign status to support Korean exporters, sponsors, investors conducting overseas business, and facilitating Korean economic cooperation with foreign countries.
Furthermore, the bank is responsible for operation of 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 worldâ€Â, as formulated in its vision, by continuously fostering innovation and growth throughout its operations. Moody's rated the Bank Aa3, S&P A , and Fitch AA-.
A statement from Jeongseon Yu, Chief Representative of the Korea Eximbank, the Republic of Korea is planning to conclude a framework arrangement with the Republic of Ghana in the near-future.
The Korean government will enable the Ghanaian government to obtain loans from EDCF for three years, to finance EDCF loan projects in the Republic of Ghana based on the arrangement.
Korea Eximbank's representative office is expected to contribute in enhancing mutual economic cooperation between Ghana and Korea.
Mr. Jeongseon Yu said: “I am very thankful to the Ghanaian Government, Bank of Ghana, GIPC, and RGD that they gave us full support so we may establish representative office in Ghana. Ghana shares similar historic experience with Korea. We can be a good partner to each other in seeking a win-win strategy".
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