Export-Import Bank and Water Resources Corporation Sign MOU for International Development Cooperation in the Water Sector

On the 10th, the Export-Import Bank of Korea (KEXIM) announced that it signed a Memorandum of Understanding (MOU) for mutual cooperation in international development cooperation projects in the water resources sector with Korea Water Resources Corporation (K-water) at its headquarters in Yeouido, Seoul on the 9th. KEXIM President Yoon Hee-sung and K-water President Yoon Seok-dae attended the signing ceremony in person.

International development cooperation projects refer to development cooperation projects provided free of charge or for a fee directly or indirectly by countries, local governments, or public institutions to developing countries for their development and welfare enhancement, as well as multilateral cooperation projects provided through international organizations.

The main contents of this MOU include ▲ joint development of international development cooperation projects in the water resources sector ▲ linkage of concessional and non-concessional aid and investment projects ▲ sharing of knowledge and capabilities ▲ discussion of projects requiring post-support after project implementation ▲ sharing of development cooperation networks and related information.

Accordingly, K-water will provide ongoing technical advice on the Economic Development Cooperation Fund (EDCF) projects in the water resources sector, and KEXIM plans to shorten the technical review period and enhance the quality based on this.

Since KEXIM, which handles concessional aid operations, and K-water, the entrusted agency for non-concessional aid under the Ministry of Environment, have established a cooperative relationship, active linkage of concessional and non-concessional aid projects in the water resources sector of developing countries will become possible, and it is expected that the effectiveness of aid projects will be greatly enhanced through a multifaceted approach to solving water issues in recipient countries, KEXIM explained.

President Yoon said, “I hope to create synergy through KEXIM’s international development cooperation experience and K-water’s expertise in the water resources sector to respond to the expansion and complexification trend of Official Development Assistance (ODA) water projects and contribute to solving water security and sanitation issues in recipient countries.”

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