Egypt, South Korea to boost cooperation in development projects

Korea Eximbank is eager to introduce support to and exchange experience with Egypt, adding that South Korea in keen on increasing partnership with Egypt in a number of development projects, according to Executive Director at Hwan Joon Yang.

Hwan’s comments came on the sidelines of a meeting held on Saturday with Egypt’s Minister of International Cooperation Rania El-Mashat.

A delegation from the Korean bank visited Egypt for four days in late January to hold meetings with the ministries interested in boosting Egypt-Korea cooperation.

Hwan and El-Mashat reviewed the bank’s new projects that will be implemented in Egypt over the coming phase.

Eximbank is the largest Korean corporation that introduces intelligence funds for development projects.

The cooperation portfolio between South Korea and Egypt records approximately $458 million, including projects to upgrade the transport sector in Egypt.