Mercury Establishes Economic Cooperation Foundation with Uzbekistan

EDPF Financial Support Business Agreement Signing

[Asia Economy Reporter Kim Jin-ho] The Export-Import Bank of Korea (hereinafter referred to as KEXIM) announced on the 19th that it has agreed to strengthen economic cooperation with Uzbekistan, a key partner country in the New Northern Policy, through the 'Economic Cooperation Promotion Fund.' The Economic Cooperation Promotion Fund is a support program for developing countries designed to overcome the limitations of pursuing large-scale projects solely through aid programs.

On the 17th, KEXIM President Bang Moon-kyu signed an EDPF business agreement with Umurzakov, Uzbekistan's Deputy Prime Minister for Investment and External Cooperation and Minister of Investment and Foreign Trade, at the Blue House.

Following this agreement, the two countries plan to strengthen cooperation in infrastructure sectors with high growth potential such as transportation, energy, water treatment, and industrial complexes, as well as IT and healthcare, including public projects led by the Uzbek government and public-private partnership (PPP) projects.

President Bang said, "Since Uzbekistan is actively fostering renewable energy projects such as solar and wind power in the form of public-private partnerships, we expect that opportunities for Korean companies to enter these projects will steadily expand in the future."

Meanwhile, KEXIM's support scale for Uzbekistan currently amounts to a total of $10.13 billion, including $9.5 billion in KEXIM financing and $630 million in EDCF.

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