Korea Eximbank provides $810 mn credit to Bangladesh

The Export-Import Bank of Korea (Eximbank) announced on Sunday that it will provide a credit of $810 million for the construction of the Karnaphuli Bridge in Bangladesh.

The project involves building a railway-road combined bridge and connecting roads across the Karnaphuli River in the southeastern Chattogram region.

On June 27, Korea Eximbank President Yoon Hee-sung met with Shahriar Kader Siddiky, Secretary of the Economic Relations Division under the Ministry of Finance in Dhaka, Bangladesh, and signed a credit agreement.

The total project cost is $1.24 billion, with the Bangladesh government investing $430 million.

Of the total loan of $810 million, $720 million will come from the Economic Development Cooperation Fund (EDCF), making it the largest project ever supported by the EDCF.

The remaining $90 million will come from the Economic Development Promotion Fund (EDPF).

By Hyun-Woo Kang 

hkand@hankyung.com