South Korea’s export credit agency has extended a US$1.3bn line of credit to Jordan’s Housing Bank for Trade and Finance (HBTF) in a deal the duo say will boost trade flows between the two countries.
The interbank credit facility, signed on June 22, will allow HBTF to lend to Jordanian companies importing from or doing other business with South Korean firms.
The Export-Import Bank of Korea (Kexim) says it is its first such arrangement with a bank in the region and is designed to help Korean exporters win market share in sectors such as automobiles, home appliances and construction projects in Jordan and its neighbours.
Korean corporate giants Hyundai and Samsung attended the signing ceremony in Amman, according to Kexim’s statement.
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