ICO and the Korean corporation KIND to promote infrastructure investment programmes and projects
Instituto de Crédito Oficial (ICO) and Korea Overseas Infrastructure & Urban Development Corporation (KIND) today signed a Memorandum of Understanding (MoU) to work together on supporting infrastructure investment programmes and projects of mutual interest.
This agreement has been signed by José Carlos Garcia de Quevedo, ICO Chairman, and KIND's Chairman and CEO Mr Kyong-goo Hur, during his official visit to our country.
KIND is a corporation recently formed by the Government of Korea to actively support national and international corporations in their efforts to undertake public-private partnership projects worldwide. Its scope of action focuses particularly on infrastructure.
The signing of this agreement formalises the non-exclusive collaboration framework between the two entities to share information and advice on planning and implementing policies, programmes and projects that promote areas of mutual interest.
It has also been agreed to carry out joint feasibility studies, draw up plans and explore investment opportunities in areas of mutual interest. The scope of the MoU may allow financing agreements to be reached between the two institutions.
In addition, the agreement establishes the possibility of sharing experiences and exchanging information through mutual consultations, joint conferences, business symposia and seminars on topics of mutual interest.
The signing of this agreement is one of ICO's priority objectives: to support Spanish companies doing business abroad and offer financial instruments to aid their international expansion. Therefore, a decision-making committee is to be created in which representatives of the State Secretariat for Trade will take part.
Korea Overseas Infrastructure & Urban Development Corporation (KIND) is an organisation formed in June 2018 by the Government of the Republic of Korea to proactively support global public-private partnerships (PPP). KIND supports Korean companies in planning projects, carrying out feasibility studies and financing projects.
About Instituto de Crédito Oficial (ICO)
Instituto de Crédito Oficial/ICO is a Corporate State-owned Entity attached to the Spanish government's Ministry of Economy and Business. ICO has become one of the points of reference in the financing of both SMEs and large-scale investment projects. ICO contributes to business growth and job creation, promoting those economic activities, which, due to their social, cultural, innovative or environmental significance, are worthy of promotion and development.