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Korea Eximbank, SBI tie up for credit facility

The Export-Import Bank of Korea (Korea Eximbank), the Korean Export Credit Agency, and SBI Capital Markets have entered into a MoU for promoting Korea Eximbank’s Interbank Credit Facility to Indian banks and other financial institutions. The facility would support loans to Korean companies conducting business overseas. Eun Sung-soo, chairman and president, Korea Eximbank and Varsha Purandare, MD & CEO, SBICAP signed the MoU. The MOU seeks to establish a line of credit from Korea Eximbank of up to $1.5 billion to Indian lenders, targeting projects largely in sectors such as energy, petrochemicals & refinery, natural resources, infrastructure, transportation, shipbuilding, environment, automobiles, machinery, etc.

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