S Korean Exim Bank to help Vietnam's BIDV fund imports from S Korea
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KOOKF | Quote | Chart | News | PowerRating -- The EXPORT-IMPORT BANK OF
KOREA (KEXIM) will finance the BANK FOR INVESTMENT AND
DEVELOPMENT OF VIETNAM (BIDV) to facilitate the latter's credit
provision for transactions relating to goods and services
imported from South Korea. Under the framework agreement signed
between the two sides in Hanoi on October 21, supporting forms
will be either import credit supply for short-, medium- or
long-term periods, a confirmation and guarantee of deferred
payment L/C, or a bill of exchange.
* BIDV has set up agency with 15 South Korean banks and put
limits on four banks, namely the KOREAN EXCHANGE BANK (KEB),
WOORI, Kexim and the KOREA DEVELOPMENT BANK (KDB).
* Kexim bank is an official export credit agency providing
comprehensive export credit and guarantee programmes to support
South Korean enterprises in conducting overseas business.
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