June 29, 2017

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KB Kookmin Bank and KOICA to cooperate in supporting developing countries

KB Kookmin Bank teams up with KOICA to cooperate in supporting developing countries including Myanmar.
KB Kookmin Bank teams up with KOICA to cooperate in supporting developing countries including Myanmar.

KB Kookmin Bank signed an MoU with the Korea International Cooperation Agency (KOICA) in Seoul yesterday regarding cooperation in supporting developing countries, including Myanmar.
Accordingly, KB will act as the financial advisor for the project feasibility evaluation and its competences in housing finance that will be applied to KOICA’s Saemaul Undong project, Korea’s new village movement model, and urban development projects.
Both parties will also cooperate in carrying out joint CSR (Corporate Social Responsibility) activities including financial education for the rural areas where Saemaul village development projects are under way, overseen by KOICA.
A KB official said that such collaboration will become the exemplary case of public-private partnerships in developing countries.
To initiate, KB and KOICA will carry out joint activities in Myanmar.
Currently KOICA is participating in evaluating infrastructure development projects, the Saemaul Undong Project, MDI(Myanmar Development Institution), MYANTRA(Myanmar Trade-Investment Promotion Agency) project, etc. in Myanmar.
KB Kookmin Bank has been working closely with its local partner, CHD Bank(Construction & Housing Development Bank), to transfer its housing finance competences since 2014.
In addition, KB has been participating in many other CSR activities since opening its representative office in 2013. KB has been sponsoring the KB Korea Language Centre for Myanmar youth and carried out joint activities with YMCA (Yangon) to aid rural area development. KB has also participated in relief programs for flood victims.

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