Korea, US, Japan to cooperate for India digital infrastructure

By Kim Joo-heon Posted : October 28, 2024, 14:20 Updated : October 28, 2024, 14:20
Korea Export-Import Bank President Yoon Hee-sung third from left in the photo met with Scott Nathan CEO of the DFC first from left and Nobumitsu Hayashi president of JBIC second from left in Washington DC on the 25th to sign the Korea-US-Japan Joint Initiative for Cooperation in Indian Digital Infrastructure Photo Korea Export-Import Bank
Export-Import Bank of Korea Chairman Yoon Hee-sung (third from left) poses with Scott Nathan (first from left), CEO of the U.S. International Development Finance Corporation, and Nobumitsu Hayashi (second from left), president of the Japan Bank for International Cooperation after signing the "Korea-U.S.-Japan Joint Initiative for Cooperation in Indian Digital Infrastructure" in Washington, D.C. on Oct. 25, 2024. Courtesy of Korea Eximbank
SEOUL, October 28 (AJP) -  The U.S. International Development Finance Corporation (DFC) has embarked on an initiative to enhance cooperation in India's digital infrastructure sector with the Export-Import Bank of Korea (Korea Eximbank) and the Japan Bank for International Cooperation (JBIC).

The three entities signed the Digital Infrastructure Growth Initiative for India Framework (DiGi Framework), the Korea Eximbank announced on Sunday.

Through this joint initiative, the three organizations recognized the strategic importance of India's digital sector and agreed to collaborate in discovering business opportunities and providing support in areas such as 5G, Open RAN (radio access network), and smart cities.

This initiative is a follow-up to the trilateral financial cooperation memorandum of understanding signed during the Korea-U.S.-Japan summit last August. 

"By partnering with JBIC, Korea Eximbank, and the private sector in India, DFC will be able to more effectively unleash the power of private capital to meet the demand for high-quality digital infrastructure in India," said DFC CEO Scott Nathan. 

Korea Eximbank Chairman Yoon Hee-sung expressed hope that collaboration with DFC and JBIC would strengthen Korea Eximbank's position as a global development finance institution and enable a more agile response to the diverse financial needs of Korean companies.
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Kim Joo-heon Reporter
Kim Joo-heon

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