S. Korea to chip in additional $2m to EBRD

Published : Jun 23, 2021 - 09:34 Updated : Jun 23, 2021 - 09:34

This photo, provided by the Ministry of Economy and Finance, shows South Korean Finance Minister Hong Nam-ki holding a virtual meeting with Odile Renaud-Basso, president of the European Bank for Reconstruction and Development (EBRD),yesterday. (Ministry of Economy and Finance)

South Korea said Wednesday it has agreed to additionally contribute $2 million to funds operated by the European Bank for Reconstruction and Development (EBRD) in a bid to boost cooperation with the lending body.

The agreement was reached after Finance Minister Hong Nam-ki and EBRD President Odile Renaud-Basso held a virtual meeting Tuesday, according to Seoul's finance ministry.

Under the agreement, South Korea will additionally contribute the money to two EBRD trust funds designed to support the transition into the market economy by eastern European and Central Asia nations.

The meeting was arranged to exchange views on agenda in the run-up to the bank's annual meeting that will be held online on July 1. (Yonhap)