Uganda, Korea sign financing agreement
SEOUL, June 6, 2024 – Uganda and South Korea have signed a framework agreement that will make the former acquire a US$ 500 million loan from the Korea EXIM Bank for the period 2024-2028.
The loan will finance infrastructure projects in Uganda. The framework agreement under the Korea Economic Development Cooperation Fund (EDCF) was signed between Uganda’s Finance Minister Matia Kasaija, and the Korean Minister of Foreign Affairs Cho Tae-Yul in Seoul on the sidelines of the first Korea-Africa Summit that took from June 4-5, 2024.
The Summit that saw Korea host representatives from 48 African countries, including heads of state, and representatives of the African Union [AU] was held under the theme, “The Future We Make Together”.
“The partnership between South Korea and Africa is a tell-tale example of how global citizens, despite different backgrounds, can get together to achieve the goal of joint prosperity,” said Ahn Duk-geun, South Korean Minister of Trade, Industry and Energy.
On the other hand, South Korea and Tanzania announced the start of Economic Partnership Agreement [EPA] negotiations to deepen trade relations. In addition, to promote trade and investment, the Trade and Investment Promotion Framework was signed with eight African countries, including Ghana, Malawi, and Zimbabwe. Additionally, South Korea signed separate agreements on key minerals with Tanzania and Madagascar.
2024 Joint Declaration of the Korea Africa Summit
https://thecooperator.news/korean-peasant-unions-condemn-importation-of-agricultural-products/
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