The chairman and president of Korea Ex-Im Bank (Kexim), Dong-Kyu Shin, and Inter-American Development Bank (IADB) president Enrique Iglesias have signed a memorandum of understanding that provides a framework for the two organisations to broaden cooperation in Latin America and the Caribbean at the policy, strategy and project levels, and to improve coordination in making resources available for the development of the IADB’s developing member countries.

The two institutions agreed to consult with each other, to share information, and to explore opportunities for further cooperation and improvement in areas such as cofinancing projects and coordination of strategies.

Kexim entered into the memorandum of understanding in its capacity as an official export credit agency for the Korean Government Agency for the Economic Development Cooperation Fund, South Korea’s development assistance agency.