The Export-Import Bank of Korea (Korea Eximbank) announced on the 14th that it held the "11th Economic Development Cooperation Fund (EDCF) Advisory Committee" meeting.

The EDCF is a state-backed fund established by the Korean government in 1987 to support the economic development of developing nations by providing long-term, low-interest loans. Entrusted by the Ministry of Economy and Finance, Korea Eximbank performs the operational and management duties for the fund.

As the trustee of the EDCF, Korea Eximbank has regularly held advisory committee meetings since 2013, inviting experts from civil society, academia, and various industries to gather diverse private-sector perspectives on fund operations.

This meeting, the first held in three years since the COVID-19 pandemic, was attended by 11 advisory members and Korea Eximbank executives. The participants discussed the EDCF’s mid-term operational strategies, climate change response frameworks, and plans to activate private-sector participation, focusing on the future direction and the strengthening of the EDCF’s global role.

Mr. Hong-min Chun, Managing Director of the Korea Institute for Development Strategy (KDS) (pictured on the far right of the front row), has been appointed as an EDCF Advisory Committee member. He will serve a two-year term starting from December 2022, contributing his professional expertise to the strategic development of the fund.