Korea Exim Global Network
KOREAN

EDCF - Economic Development Cooperation Fund

ABOUT EDCF WHAT WE DO PUBLICATION & DATA NEWS & FAQ
Korea Exim Global Network
KR

ABOUT EDCF

WHAT WE DO

PUBLICATION & DATA

NEWS & FAQ

Success partner for your global takeoff,
The Global Network of Korea Eximbank.

Global Asia Europe America Africa
Representative Office(24) Overseas Subsidiaries(5)

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LOAN PROCEDURE

1
Policy
Dialogue
2
Project
Preparation
3
Appraisal
4
Procurement
5
Disburse
ment
6
Evaluation

Disbursements under the loan are made according to the procedures stipulated in the Loan Agreement.
In principle, disbursements are made only when the funds are needed in line with the progress of the project, up to the amount of the loan, and within the period specified in the Loan Agreement.

  • The borrower is responsible for the execution of the project, including procurement. However, Eximbank monitors project implementation and advises the borrower when necessary. Proceeds of the loan are usually used only for foreign currency costs, but in some cases local currency costs may be covered, depending on the nature of the project.
  • In addition, in case certain indispensable goods have to be procured from countries other than Korea, EDCF will purchase and disburse US dollars at the recipient government's request, to facilitate procurement.
  • The following are three types of disbursement procedures, depending on the procurement conditions.
    • L/C Procedure (Commitment Procedure)
    • Reimbursement Procedure
    • Direct Payment Procedure