The Republic of Korea is a founding member of the EBRD and an important contributor to the Bank's work.
The Republic of Korea has been an EBRD donor since 1993 and has emerged as a strong partner in recent years, contributing about €38 million in donor funds. In 2009, Korea is a contributor to the Early Transition Countries (ETC) Fund, the EBRD Water Fund and the Small Business Impact Fund (SBIF).
Republic of Korea and the EBRD: at a glance
€38m donor funds supporting EBRD operations
1% capital share
€1.8bn Korea-EBRD investments
The Republic of Korea concentrated its support initially in Central Asia, and now is extending the geographic reach of its support to the SEMED countries and Ukraine.
Korea supports a wide range of activities in various sectors, from municipal and environmental infrastructure and energy efficiency to the financial sector. Korea has been engaged in the development of the knowledge economy, EBRD’s Capital Markets and Local Currency Market Initiative, energy efficiency, climate change and green growth initiatives.
Strategically, the Republic of Korea is closely engaged in the development of the Local Currency Market Initiative, as well as climate change and green growth initiatives.
The Republic of Korea is an important source of foreign direct investment in the EBRD’s countries of operations. The value of joint Korea-EBRD investment stood at €1.8 billion as of December 2018. EBRD finance accounted for €1.17 billion, and Korean investment accounted for €676 million.Korea-EBRD investment has been especially strong in Turkey, Hungary and Egypt. Broken down by sector, the joint Korea-EBRD investment has been in energy, infrastructure, industry, infrastructure and financial institutions.
Korean banks are also involved in the Trade Facilitation Programme, through which the EBRD guarantees the payment of trade finance instruments issued by banks in its countries of operations to foreign confirming banks. Through the Programme, the EBRD has supported export and import transactions of Korean banks. Of the over 800 foreign confirming banks and bank branches in the Programme, 11 are Korean.
In 2018, ten consultancy contracts totalling €545,658 were awarded to Korean consultants.