{"id":98092,"date":"2017-06-08T10:07:10","date_gmt":"2017-06-08T10:07:10","guid":{"rendered":"http:\/\/punjabpost.in\/welcome\/?p=98092"},"modified":"2017-06-08T10:07:10","modified_gmt":"2017-06-08T10:07:10","slug":"cabinet-approves-mou-india-korea-export-credit-usd-9-billion","status":"publish","type":"post","link":"https:\/\/punjabpost.in\/welcome\/98092","title":{"rendered":"Cabinet approves MoU between India and Korea for export credit of USD 9 billion"},"content":{"rendered":"<p style=\"text-align: justify;\">New Delhi, June 7 (Punjab Post Bureau) &#8211; The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for export credit of USD 9 billion for infrastructural development in India and for the supply of goods and services as part of projects in third countries.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The MoU is proposed to be signed between the two banks during the forthcoming visit of the Finance Minister Shri Arun Jaitley, to Seoul, Korea during 14-15 June 2017 for the Annual Financial Bilateral Dialogue. The decision is expected to promote the country\u2019s international exports, and deepen political and financial ties between India and Korea. The export credit will be utilized through lending by EXIM Bank for promoting projects for priority sectors, including smart cities, railways, power generation and transmission etc., in India and for the supply of goods and services from India and Korea as part of projects in third countries.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 The Joint Statement issued in 2015 during the visit of the Prime Minister to the Republic of Korea stated that Korea intends to offer USD 10 billion of infrastructural development in India. The package was subsequently prepared to comprise of USD 1 billion from the South Korean Economic Development Cooperation Fund (EDCF) as government to government funding and USD 9 billion as export credit from KEXIM. The credit of USD 9 billion from KEDIM is to be through a formal MoU to be signed between KEXIM and EXIM Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi, June 7 (Punjab Post Bureau) &#8211; The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for export credit of USD 9 billion for infrastructural development in India and for the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":68473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-98092","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-english"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cabinet approves MoU between India and Korea for export credit of USD 9 billion | Punjab Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/punjabpost.in\/welcome\/98092\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet approves MoU between India and Korea for export credit of USD 9 billion | Punjab Post\" \/>\n<meta property=\"og:description\" content=\"New Delhi, June 7 (Punjab Post Bureau) &#8211; The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposed Memorandum of Understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for export credit of USD 9 billion for infrastructural development in India and for the &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/punjabpost.in\/welcome\/98092\" \/>\n<meta property=\"og:site_name\" content=\"Punjab Post\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/punjabpost.in\/welcome\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-08T10:07:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/punjabpost.in\/welcome\/wp-content\/uploads\/2016\/07\/Modi2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"380\" \/>\n\t<meta property=\"og:image:height\" content=\"285\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"ppadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ppadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092\",\"url\":\"https:\/\/punjabpost.in\/welcome\/98092\",\"name\":\"Cabinet approves MoU between India and Korea for export credit of USD 9 billion | Punjab Post\",\"isPartOf\":{\"@id\":\"https:\/\/punjabpost.in\/welcome\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092#primaryimage\"},\"image\":{\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092#primaryimage\"},\"thumbnailUrl\":\"https:\/\/punjabpost.in\/welcome\/wp-content\/uploads\/2016\/07\/Modi2.jpg\",\"datePublished\":\"2017-06-08T10:07:10+00:00\",\"author\":{\"@id\":\"https:\/\/punjabpost.in\/welcome\/#\/schema\/person\/e389e50e8970b30f10352199927e8693\"},\"breadcrumb\":{\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/punjabpost.in\/welcome\/98092\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092#primaryimage\",\"url\":\"https:\/\/punjabpost.in\/welcome\/wp-content\/uploads\/2016\/07\/Modi2.jpg\",\"contentUrl\":\"https:\/\/punjabpost.in\/welcome\/wp-content\/uploads\/2016\/07\/Modi2.jpg\",\"width\":380,\"height\":285},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/punjabpost.in\/welcome\/98092#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/punjabpost.in\/welcome\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cabinet approves MoU between India and Korea for export credit of USD 9 billion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/punjabpost.in\/welcome\/#website\",\"url\":\"https:\/\/punjabpost.in\/welcome\/\",\"name\":\"Punjab Post\",\"description\":\"Daily Online Newspaper &amp; 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