Korea Development Bank Establishes 'Development Finance Model'... Exporting Financial Know-How to Developing Countries

Vietnam, Myanmar, and Other Southeast Asian Network Expansion to Continuously Support Government's New Southern Policy

[Asia Economy Reporter Kangwook Cho] The Korea Development Bank (KDB) announced on the 22nd that it has established the 'Development Finance Model (KDB Experience Sharing Program)' to transfer development finance experience and know-how to developing countries such as Vietnam and Myanmar.

The 'Development Finance Model' is composed of the changes in roles in response to government policies over time since the 1950s and the current overall development finance operations of KDB. KDB expects it to serve as a guidebook for the systematic introduction of development finance in developing countries.

Recently, KDB has been using the 'Development Finance Model' to provide development finance training to governments and financial institutions in key New Southern countries.

Earlier, as a follow-up to the Memorandum of Understanding on Cooperation signed with the Ministry of Finance of Vietnam in November last year, KDB is supporting the capacity building of the Vietnam Development Bank in development finance.

Also, following the acquisition of a preliminary license for its Yangon branch in Myanmar on April 9, KDB plans to transfer development finance know-how by providing training and lectures related to development finance for the Myanmar government and others to support the establishment of the Myanmar Development Bank.

Based on its past experience in development finance, KDB supported the establishment and initial operation of the Mongolia Development Bank through entrusted management from August 2011 to July 2015.

KDB expects that by utilizing the 'Development Finance Model' in the future, it will support the government's New Southern Policy and serve as a foothold for mutually beneficial development between countries in Southeast Asia and other regions with high growth potential.

This content was produced with the assistance of AI translation services.