Korea Eximbank pens $6 bln framework agreement with Saudi Aramco
- Date: 07-Mar-2023
- Source: Argaam
- Sector:Financial Services
- Country:Saudi Arabia
Korea Eximbank pens $6 bln framework agreement with Saudi Aramco
The Export-Import Bank of Korea (Korea Eximbank) signed today, March 7, a $6 billion framework deal with Saudi Arabian Oil Co. (Saudi Aramco), Yonhap News Agency reported.
The three-year agreement is considered a step that will help South Korean companies win contracts in the Kingdom.
Under the framework agreement, Korea Eximbank can lend up to $6 billion to Saudi Aramco, of which $1 billion is allocated for the hydrogen and renewable energy deals, the bank said.