WARSAW, March 16 — South Korean commercial and private banks will create a fund that could provide US$7.5 billion to finance Polish purchases of weapons from Korea, a South...
South Korean commercial and private banks will create a fund that could provide US$7.5 billion to finance Polish purchases of weapons from Korea, a South Korean deputy defence minister told the defence24.pl website in an interview published yesterday. — Reuters picWARSAW, March 16 — South Korean commercial and private banks will create a fund that could provide US$7.5 billion to finance Polish purchases of weapons from Korea, a South Korean deputy defence minister told the defence24.
However, there had been concerns over the status of South Korean loans to finance the deals and over how a change of government in Warsaw could affect them.“Korean commercial banks, private banks, have agreed to consolidate some form of funds, which will provide an additional US$7.5 billion ,” Sung Il was quoted as saying. “This is a very broad financing for the development of industrial and defence cooperation between our two countries.
“We have put a lot of effort into increasing the capital of the Export-Import Bank of Korea,” Sung said. “Under the new law, we can grant Poland a loan of US$8.5 billion.”The Polish defence ministry did not immediately respond to an emailed request for comment outside normal office hours. The South Korean defence ministry did not have an immediate comment.
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