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EDCF History

The EDCF Act (Law No.3863) was promulgated in December 1986.
The first session of the Fund Management Council was held in May 1987, and in the
following month, the Export-Import Bank of Korea was entrusted as a unit for business
operation and management of EDCF. In July 1987, a total of 15 billion won of initial
contribution to EDCF was made by the Korean government.

In December 1987, a decision on its first official assistances, the Padang By-Pass Project in Indonesia and the Passenger Coach Project in Nigeria, was reached.

The first EDCF Workshop was held in October 1995 for government officials from nine developing countries. Assistance policy for co-financing projects with the IDB was introduced in July 2000. In Desember 2003, a debt relief program for the HIPC Initiative was set up to commit EDCF loans for developing countries.

In 2010, Korea became a member of the OECD Development Assistance Committee(DAC).

OECD / DAC

History

2000~2017 Elevation of Korea’s international status through remarkable economic growth
  1. 2017
    1. 12Recording USD 14.6 Billion in Cumulative EDCF Loan Commitments
  2. 2014
    1. 08Introduction of Private Sector Loan,
      Sector Development Loan, and Loan to International Development Financial Institution
    2. 05Conclusion of MOU with IFAD
  3. 2013
    1. 12Hosting of Climate Finance International Forum,
      Recording USD 10 Billion in Cumulative
      EDCF Loan Commitments
    2. 05Hosting of EDCF Development Finance Seminar
  4. 2012
    1. 12Approval of First Commitment for a Program Loan
      Launch of the OECD DAC Peer Review on EDCF
  5. 2011
    1. 12Establishment and Launch of the ODA Monitoring System
    2. 12Resumption of EDCF Aid to Myanmar
    3. 09Hosting of the First Joint Evaluation with Partner Countries
  6. 2010
    1. 01Korea's Accession to the OECD DAC
  7. 2008
    1. 12Yearly Commitment Amount First Exceeding USD 1 Billion
    2. 05First External Ex-post Evaluation of EDCF Project
  8. 2007
    1. 08Introduction of the Compact Loan and Public
      Partnership Loan
    2. 07Hosting of the EDCF International Conference in
      Commemoration of its 20th Anniversary Issuance of the
      EDCF’s 20-year History Book
  9. 2006
    1. 12First Grant Assistance for the Feasibility Study
      : Medical Equipment Supply to Dak Nong Provincial
      General Hospital Project, VietNam
    2. 10Conclusion of MOU with JBIC
    3. 01First Implementation of the Medium-Term
      EDCF Strategic Management Plan
  10. 2005
    1. 12Cooperation Agreement Signing with the Ministry of
      Finance and Economy for the Operation and Management
      of the MDB Trust Fund Launching the International
      Development Consulting Center Introduction of the Country
      Cooperation Strategy and Program for Indonesia and
      VietNam
    2. 11Conclusion of MOU between Korea Eximbank and the AfDB
    3. 12Conclusion of MOU between Korea Eximbank and the IDB
  11. 2004
    1. 12First Grant Assistance for the Ex-post Assistance
      : The 2nd Misamis Oriental Telephone Expansion and
      Modernization Project, The Philippines
    2. 01Introduction of the Special Supporting Program
      on a Grant Basis
    3. 06Reaching over USD 2 Billion in Cumulative EDCF
      Loan Commitments
  12. 2003
    1. 12Resumption of Government Contributions to
      EDCF in 5 years
    2. 02Conclusion of Co-financing Arrangement with IDB
  13. 2000
    1. 07First Approval of Co-financing with IDB

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