Export-Import Bank of Korea and African Export-Import Bank, or Afreximbank, have signed an interbank credit facility agreement worth US$200 million.
Under the agreement, the policy lenders will set up a credit line to help African enterprises with business ties to Korean companies, according to a May 24 release.
This follows a similar deal between Korea Eximbank and Nigerian Zenith Bank worth US$100 million. The Asian institution expects the new agreement to further boost the entry of Korean firms into the African continent.
