Markets

Korea’s Export-Import Bank Joins IDB Trade Finance Facilitation Programme

By: Caribbean Journal Staff - March 20, 2012

Above: the signing of the Korea-IDB agreement (IDB Photo/Arlette Pedraglio)

By the Caribbean Journal staff

The Export-Import Bank of Korea has joined the Inter-American Development Bank’s Trade Finance Facilitation Programme.

Under the TFFP, the IDB offers trade finance co-lending facilities and guarantees to support participating banks to further their trade-finance business and promote economic growth.

“We look forward to working together with the Export-Import Bank of Korea and to continue to incorporate additional Korean banks in the near future,” said Daniela Carrera-Marquis, Chief of the Financial Markets Division at the IDB’s Structured and Corporate Finance Department. “The potential to further expand the volume of business between Asia and Latin America and the Caribbean is significant, and the IDB is well-positioned to play a leadership role and facilitate such market growth.”

“The Export-Import Bank of Korea is pleased to partner with the IDB and join the growing TFFP network,” said Woo-taek Suh, director general of the Interbank Export Finance Department at Korea’s Export-Import Bank.

It it the latest move of a strong Asian presence at the IDB’s ongoing annual meeting in Montevideo.

The deal follows the creation of a joint investment platform between the IDB and China’s Export-Import Bank that could mobilize $1 billion for the region.

Yesterday, Korea and the IDB established a public capacity building fund for economic development, and on the same day the IDB and the Asian Development Bank pledged to forge a closer relationship.

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]


United Airlines Is Launching New Nonstop Flights to Belize

river in belize

The river lodges. The blue hole. The Maya history. The reefs. If you haven’t been to Belize, you’re missing one of the Caribbean’s most beautiful, adventure-filled destinations.  And now with another new flight, it’s easier to get there than ever […]


A Tiny New Boutique Hotel Just Opened on a Pink Sand Beach in The Bahamas 

potlatch club pink sand with blue water

The pink sand, the historic cottages, the chic beach bars and luxe villas. You may be thinking of Harbour Island.  But this is another increasingly hip destination in The Bahamas: Governor’s Harbour, Eleuthera, which just welcomed a brand-new boutique hotel.  […]


Related Posts

From Jamaica to China, a Journey of Identity

Exploring the new memoir Finding Samuel Lowe by Paula Williams By Dana NIland CJ Contributor “Finding Samuel Lowe” chronicles author Paula Williams Madison’s search not only for her grandfather she never knew – the eponymous Samuel – but for a family and […]


China to Fund $511 Million Project at University of the West Indies

UWI, China Harbour sign memorandum By Dana Niland CJ Contributor The University of the West Indies and China Harbour Engineering Company have signed a Memorandum of Understanding for a $511 million USD development project. The project will include the expansion […]


New $250 Million Hotel Project Breaks Ground in Nassau

Another big new project in New Providence By the Caribbean Journal staff A new $250 million dollar development has broken ground in Nassau. Pointe, as it is known, is slated to include 200 guest rooms, world-class shopping, fine dining options, […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You