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Article: S. KOREA TO OFFER US$2.4 BLN IN LOANS TO DEVELOPING NATIONS.

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AsiaPulse News
Article date:
February 14, 2007
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SEOUL, Feb. 14 Asia Pulse - The South Korean government said Wednesday it plans to hand out a total of 2.4 trillion won (US$2.6 billion) in soft loans to developing nations in the next four years.

The figure set for 2007-10 period compares with 1.1 trillion won provided by South Korea in the 2003-06 period through the Economic Development and Cooperation Fund (EDCF), a state-run fund offered to developing nations, according to the Ministry of Finance and Economy.

About 70 per cent of the fund, or 1.7 trillion won, will be allotted for Asian countries, while financial support for African nations will also be raised to help them tackle poverty. In 2007, ...

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