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MANILA - The Korea Export Import Bank is keen on helping fund some of the Philippines' public-private partnership infrastructure projects.
In a briefing, Tae-ik Park, Korea Eximbank chief representative, said the agency would provide official development assistance for the Philippines' PPP projects, particularly renewable energy and natural resources development.
Korea Eximbank plans to grant $630 million in guarantees and loans to Philippine firms by yearend.
The agency already committed $1.7 billion in loans and guarantees to the Philippines in the first four months of this year.
Park said he has met with officials of the National Economic Development Authority and the PPP Center for the purpose.
Dong-hun Lee, Korea Eximbank resident representative in Manila, said the agency already set up a one-stop shop for PPP participants.
Park said Korea's Economic Development Cooperation Fund also could be tapped by private-sector participants of the PPP program. EDCF charges 0.15 percent a year for a 40-year loan.
Another $1.2 billion would be made available through the EDCF window this year.
“In line with this, the disbursement of EDCF will amount to $560 million this year which is more than a 20 percent increase compared to that in April 2011,” Park said.
The EDCF has financed 16 projects worth a combined $614 million.
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