The Export-Import Bank of Korea said it will strengthen financing cooperation with the International Finance Corporation (IFC) in critical mineral supply chains and advanced industries such as artificial intelligence and digital infrastructure.
Korea Eximbank said on the 18th that Governor Hwang Ki-yeon met IFC Executive Vice President and CEO Makhtar Diop on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group in Bangkok to discuss ways to broaden strategic financing cooperation.
The two institutions agreed to widen cooperation that has so far focused on infrastructure and energy projects in developing countries to include critical mineral supply chains and innovative, advanced industries.
Korea Eximbank plans to link up with the World Bank Group's multilateral cooperation platforms and support tools to help stabilize global supply chains and build cooperation across the critical minerals value chain, while also expanding joint financing in innovative and advanced industries including green businesses and AI and digital infrastructure.
"Building on cooperation with global financial institutions including the IFC, we will continue to serve as a financing bridgehead that actively supports Korean companies expanding overseas in key areas such as critical mineral supply chains and innovative, advanced industries," Hwang said.
Hwang also met UK Export Finance (UKEF) Chief Executive Tim Reid on the 15th to discuss expanding financing cooperation in areas of mutual interest, including the transition away from carbon, critical mineral supply chains and defense.