Korea Eximbank Sends Relief Funds to Colombia
The Export-Import Bank of Korea has extended a helping hand to Colombia, where a recent magnitude 7.4 earthquake and aftershocks have displaced more than 50,000 people.The Export-Import Bank of Korea announced on August 18 that it has donated 100 million won to the Republic of Korea National Red Cro
On August 18, the Export-Import Bank of Korea announced a donation of 100 million won to the Republic of Korea National Red Cross. This aid aims to supply relief goods, provide emergency assistance, and restore relief sites for the 50,000+ people displaced by the magnitude 7.4 earthquake in Colombia. The Export-Import Bank of Korea expressed hope that this financial support would bring some comfort to the victims who have lost their homes due to the disaster.
The bank also stated its commitment to actively participate in future relief efforts in international disaster situations.
Beyond this immediate relief, the Export-Import Bank of Korea is strengthening its economic ties with Colombia. The bank already operates a relending facility with a $100 million limit, established for Banco de Occidente, a private commercial bank in Colombia. This relending facility allows the Export-Import Bank of Korea to lend funds to local banks, which then provide loans to Korean businesses exporting goods to Colombian companies.
The Export-Import Bank of Korea is leveraging this system to bolster the expansion of K-bio exports by domestic small and medium-sized enterprises.
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