Sejong, Yonhap News Agency, November 23rd. The South Korean government will increase its loan amount to Kenya by 2026 to US$1 billion.
According to the Ministry of Strategy and Finance on the 23rd, Deputy Prime Minister and Finance Minister Choo Kyung-ho attended the Han-Ken summit meeting on the same day and signed a basic agreement on the Korean External Economic Cooperation Fund (EDCF) with Kenya including the above-mentioned contents. As a result, South Korea's loan amount to Kenya will increase from US$300 million to US$1 billion from this year to 2026.
The South Korean government stated that it will strengthen economic development cooperation with non-Asian emerging developing countries with great potential for economic cooperation.
Established in 1987, the Foreign Economic Assistance Fund is a paid aid fund for South Korea to support developing countries in developing their economies and promoting economic and trade cooperation. (Finish)
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