Wednesday, April 8, 2015

Korea and the IDB Enhance their Partnership with new $100 million facility

The Inter-American Development Bank (IDB) and the Government of Korea expanded their already ongoing and effective partnership with a new $100 million lending facility. In a signing ceremony on the side of the IDB-IIC Board of Governors Annual Meeting in Busan, Korea, IDB President Luis Alberto Moreno and Deputy Prime Minister & the Minister of Strategy and Finance of Korea Choi Kyung Hwan met to establish the Korea Infrastructure Development Co-financing Facility for Latin America and the Caribbean.

With initial funding of US$100 million, the facility is expected to serve as the primary platform for co-financing between the IDB and Korea, allowing the partners to finance projects in a variety of sectors that contribute to the region’s development.

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