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[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Bank said on the 17th that it has been selected as the top preferred bidder for the Foreign Currency Safe Bank of the Ministry of Economy and Finance's Foreign Economic Cooperation Fund (EDCF).
The International Economic Cooperation Fund (EDCF) was established in 1987 by the Korean government to support economic development in developing countries and promote economic exchanges. The introduction of the foreign currency account (foreign currency safe) was promoted to enhance the efficiency of loan management as the demand for execution of foreign currency-denominated loans executed in foreign currency has recently increased.
If Hana Bank is finally selected as a foreign currency safe bank, it will carry out foreign currency accounting, account management, foreign currency remittance and exchange business as a foreign currency safe bank for up to five years from this year.
At the final selection, the government plans to actively respond to the expansion of EDCF-supported target countries and the operation of foreign currency-denominated loans by utilizing unique global capabilities such as △ 113 global networks in 25 countries △ foreign exchange contracts with 1,197 banks in 105 countries △ deposit replacement accounts of 229 banks in 52 countries.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
