SOUTH KOREA
October 1st, 2001
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development has developed what appears to be the rather unlikely plan to lend US$25 million to a South Korean-owned shipbuilding firm, in a bid to increase its industrial capacity. Although the proposed loan would actually be spent on boosting Daewoo Shipbuilding and Marine Engineering's operations in Mangalia, a Black Sea coast town in Romania, near the Bulgarian border, the bank is said to be aware of the political sensitivities. An EBRD note said that the loan would "enable the yard to re-establish its ...
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