Sooeun Signs 'Green Growth' MOU with Global Green Growth Organization

Expansion of Green EDCF Support for Green Projects Including Renewable Energy

Suh Moon-kyu, President of the Export-Import Bank of Korea (right in the photo), and Frank Rijsberman, Secretary-General of the Global Green Growth Institute (GGGI, left in the photo), signed a "Memorandum of Understanding for Green Growth Cooperation" at the Export-Import Bank headquarters on the afternoon of the 29th.

[Asia Economy Reporter Jin-ho Kim] The Export-Import Bank of Korea announced on the 31st that it has established a strategic partnership with the Global Green Growth Institute (hereinafter "GGGI") to support the implementation of the United Nations (UN) Paris Climate Change Agreement. GGGI is an international organization specializing in climate change and the environment (with 40 member countries) that supports sustainable economic growth through the formulation and implementation of green growth policies in developing countries, as well as green investment procurement and investment advisory services.

On the 29th, Koo Bon-kyu, President of the Export-Import Bank of Korea, and Frank Rijsberman, Secretary-General of GGGI, met at the bank’s headquarters in Yeouido, Seoul, and signed a "Memorandum of Understanding for Green Growth Cooperation."

Following the signing of the MOU, the two institutions plan to expand support for the Green Economic Development Cooperation Fund (EDCF) by increasing green investment project opportunities in renewable energy (solar and wind), urban transportation, and resource recycling sectors, as well as strengthening investment project advisory services.

The main contents of the MOU include ▲ joint analysis of green projects in developing countries ▲ GGGI’s support for project preparation related to the bank’s green projects ▲ feasibility studies for green infrastructure projects through public-private partnership models ▲ development of green projects using blended finance methods.

At the MOU signing ceremony, President Koo stated, “In line with the international trend of supporting joint responses to climate change, we will expand the Export-Import Bank’s ESG role in creating environmental and social value and support the enhancement of our companies’ global ESG competitiveness.”

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