South Korea Monday announced it is contributing 3.5 billion dollars to a new fund to provide loans to finance infrastructure projects under the Asian Development Bank over the next three years.

"I am very happy to announce the Korea Infrastructure Initiative which will scale up our co-financing facilties with the ADB to around 3.5 billion dollars (2.6 billion euros) over the next three years," said Man-Soo Kang, South Korea's representative at the ADB's board of governors' meeting in Madrid.

Full Story...

Posted by boyang at May 7, 2008 12:15 PM