‎Korea Eximbank pens $6 bln framework agreement with Saudi Aramco

‎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.