South Korea expects to lend about $10 billion for the United Arab Emirates’ first nuclear plants, more than doubling pledges it has already made this year to finance construction projects in the Middle East.
The Export-Import Bank of Korea expects to lend most of the money that Korea Electric Power Corp. and contractors will need to borrow to build four 1,400-megawatt atomic power stations in the U.A.E., said the bank’s chief representative in Dubai.
The state-owned bank, known also as Kexim, provides credit for Korean companies overseas and has already committed this year to lend $9.4 billion for energy projects and other infrastructure work in the Middle East. Loans for the construction in Saudi Arabia of the Yanbu oil refinery and two power plants may be among its next big deals.
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