Vietnam, S.Korea Banks Sign US$50M Export Credit Deal
The Bank for Investment and Development of Vietnam (BIDV) on October 20 signed an agreement with South Korea’s state-run Export-Import Bank (Kexim) on a US$50 million inter-bank export credit.
The credit line aiming to boost economic exchanges will finance Vietnamese companies to import products and services from South Korea.
The agreement was signed by Kim Dong-soo, chairman of Kexim, and Tran Anh Tuan, head of BIDV on the occasion of President Lee Myung-bak’s three-day visit to Vietnam.
Kim was accompanying South Korean President on his trip to the Southeast Asian country.
As of October, Kexim has provided credits worth US$834 million to 30 businesses in Vietnam from its economic development cooperation fund. (BIDV)
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