Korea Eximbank donates W100m for Colombia quake relief

The Export-Import Bank of Korea said Tuesday it has donated 100 million won ($70,825) to the Korean Red Cross to support relief efforts following a powerful earthquake in Colombia.

The funds will provide emergency supplies and other assistance to affected communities. More than 50,000 people were affected by the magnitude 7.4 earthquake and subsequent aftershocks, according to the bank.

“We hope the donation provides some comfort and practical support to those who lost their homes and livelihoods in the sudden disaster,” a Korea Eximbank official said.

“We will continue to support relief efforts in response to major disasters overseas.”

Separately, Korea Eximbank has established a $100 million on-lending facility with Colombian commercial lender Banco de Occidente to help Korean small and midsize companies expand exports of biotechnology products to the country.