Eximbank paves way for business in Mexico
The state-run financier for exporters said on Tuesday its CEO Lee Duk-hoon met with Enrique Ochoa Reza, CEO of Comision Federal de Electricidad (CFE) at the National Palace on Monday, to sign a $1 billion agreement to help finance projects by 2018 and exchange information on projects. CFE is the largest electricity provider owned by the Mexican government, engaging in a variety of businesses including construction of independent power plants and the establishment of shale gas pipelines.
President Park Geun-hye, who is currently on a four-day visit to the country, and her counterpart Enrique Pena Nieto, joined the ceremony.
Mexico is expected to be a highly promising market for Korean firms.
The institution also inked a $200 million contract for a financial program with its Mexican counterpart Banco Nacional de Comercio Exterior (Bancomext) which allows Mexican firms to import Korean products with funds lent by Eximbank. ?
BY SONG SU-HYUN [firstname.lastname@example.org]
More in Finance
Banks failed to tell borrowers they can demand rate cuts: FSS report
Stocks fall more than 1% as profit-taking continues
Profit-taking ends four-session winning streak for Kospi
Lottery sales hit record in the first half
Another recent high