South Korean banks line up to finance arms sales to Poland
17:59
A group of South Korean private banks will provide Poland with a loan to finance the purchase of military equipment, Reuters reported.
Five local banks are preparing to provide a syndicated loan that will help Poland purchase South Korean rocket artillery systems and fighter jets, an anonymous government official in South Korea told Reuters. He did not disclose the size of the potential loan.
Seoul is actively looking for ways to finance a comprehensive arms deal signed with Poland last year, under which South Korean companies, including Hyundai Rotem and Hanwha Aerospace, will produce and deliver K2 tanks, K9 self-propelled howitzers with ammunition, and FA50 fighter jets.
