S Korean Exim Bank to help Vietnam's BIDV fund imports from S Korea

Fri. October 23, 2009; Posted: 01:41 AM

HANOI, Oct 23, 2009 (Asia In Focus via COMTEX) -- 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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