Korea Infrastructure Urban Development Corporation (KIND), a government organization which supports Korean companies and all stages of overseas investment development businesses on Friday opened its infrastructure cooperation center in Nairobi, Kenya.
The Nairobi office will be the fourth and first in Africa after Uzbek, India and Vietnam.
The event, which was held at Radisson Blu, was attended by more than 70 invited guests who included officials from both Kenya and Korean government.
The occasion was to officially launch its offices in Nairobi, Kenya and establish its presence to proactively support global Public-Private Partnership (PPP) and infrastructure and urban development for sustainable growth in emerging markets.
Speaking during the occasion, Principal Secretary in the Ministry of Transport, Infrastructure and Urban Development Ms Nancy Karigithu said the infrastructure development is the cornerstone of economic development and Kenya appreciates the opening of KIND office as a cooperative center in Nairobi and Africa as a whole.
PARTNER
“The new office will serve as a pipeline for transferring know-how accumulated through Korea’s economic development to Kenya and other African countries,” she said.
KIND’s Business Development Director Lim Han-kyu added that as a trusted partner, they will look for answers together and they will do everything they can to help.
Seok Hong Sung, KIND Managing Director in Nairobi, and who has been in charge of establishing the new office, said Korea will will make efforts to become a catalyst for the sustainable and realization of PPP business.
“We will serve as a bridgehead for growth through Kenya infrastructure development based on cooperation with governments with our excellent partners,” he said.
During the same event, Eastern and Southern African Trade and Development Bank (TDB) and KIND signed a memorandum of understanding between both institutions to cooperate on infrastructure financing in the region which TDB serves.
PROJECTS
TDB and KIND agreed to cooperate to facilitate projects and infrastructure development, and to leverage Korea’s innovative experience in infrastructure and urban development through KIND.
This can be via technical as well as financial advisory assistance, to support infrastructure projects, as well as feasibility studies to bring infrastructure transactions to a bankable stage.
KIND is now ready to serve as a facilitator for efficient PPP projects worldwide, collaborating with various global PPP players to help fill such gap.
KIND is an organization which was established in June 2018 by the Government of Korea in accordance with the Overseas Construction Promotion Act enforced on the 25th of April 2018, to proactively support global Public-Private Partnership (PPP) business.
KIND supports Korean companies for project planning, feasibility studies, project information and project bankability.
Through the activities KIND is aiming to contribute to life quality improvement and sustainable growth in the partner countries.
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