Export-Import Bank of the U.S. Signs Memorandum of Understanding with Export-Import Bank of Korea During COP28
Dubai, U.A.E. – Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis and Hee-Sung Yoon, Chairman and President of the Export Import Bank of Korea (KEXIM), today officially signed a Memorandum of Understanding (MOU) between EXIM and KEXIM to facilitate financing collaboration on renewable energy and zero-carbon technology projects. The MOU was signed during the 2023 United Nations Climate Change Conference (COP28) and focuses on facilitating financing collaboration across sectors, including on a variety of climate-focused sectors, specifically energy storage and efficiency technologies, electric vehicle supply chain resilience, zero-carbon energy, and eco-friendly infrastructure.
“This MOU underscores our desire to continue building upon EXIM’s strong history of collaboration with KEXIM to meet our mutual goals of advancing the global energy transition,” said Chair Lewis. “The Export-Import Bank of the U.S. is deeply committed to expanding our work in the renewable and clean energy sectors to advance Biden-Harris Administration climate priorities. The MOU signed today will be a critical tool in ensuring important renewable and zero carbon energy projects can be brought to reality.”
“I am truly proud that KEXIM, in collaboration with US EXIM, has laid the foundation for joint efforts towards Net Zero initiatives in the areas of EV and battery value chains as well as green energy, on this significant occasion of COP28,” said KEXIM Chairman and President Yoon. “KEXIM will help Korean companies in securing competitive financing support by leveraging our extensive global networks.”
The MOU signed today directly advances key Biden-Harris Administration priorities to support the global energy transition and builds upon nearly 20 years of collaboration between EXIM and KEXIM.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.