Export-Import Bank Joins International Cooperation for Colombia Climate Change Response

Commitment to Provide $100 Million from the Economic Development Cooperation Fund

On the 2nd (local time), Kookmin Bank President Bang Moon-kyu met with representatives of cooperative lending institutions including the Inter-American Development Bank (IDB) in Glasgow, UK, where the United Nations Climate Change Conference of the Parties (COP26) was held, in the presence of Colombian President Ivan Duque. They signed the "Colombia Sustainable and Resilient Growth Program Agreement." (From left: Carlos Eduardo Correa, Colombian Minister of Environment; Kookmin Bank President Bang Moon-kyu; Stephan Opitz, Member of the Management Board of KfW; Ivan Duque, President of Colombia) Photo by Bang Moon-kyu

[Asia Economy Reporter Kim Jin-ho] The Export-Import Bank of Korea announced on the 5th that it will participate in international cooperation to support the Colombian government's response to climate change through the Economic Development Cooperation Fund (EDCF).

On the 2nd (local time), President Bang Moon-kyu met with representatives of cooperating financial institutions such as the Inter-American Development Bank (IDB) in Glasgow, UK, where the United Nations Framework Convention on Climate Change Conference of the Parties (COP26) was held, in the presence of Colombian President Iv?n Duque, and signed the "Colombia Sustainable and Resilient Growth Program Agreement."

The program supports the improvement of ten key policy tasks for Colombia, including ▲strengthening climate change response plans and financing ▲sustainable use of forest resources ▲energy transition centered on renewable energy ▲spread of low-carbon vehicle technology.

Six development banks plan to provide a total of approximately 1.2 billion USD in aid funds as part of a joint international effort to address climate change issues, and the Export-Import Bank of Korea intends to provide 100 million USD to Colombia through the EDCF.

At the signing ceremony, President Bang said, "Colombia is the only Latin American country that participated in the Korean War, and we have built close cooperative relations in diplomacy and trade," adding, "We will expand the cooperative foundation between the two countries into areas such as climate change response and sustainable growth, which are national-level challenges."

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