Exclusive-South Korea lining up banks to help finance $22 billion arms sale to Poland

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Exclusive-South Korea lining up banks to help finance $22 billion arms sale to Poland

© Reuters. FILE PHOTO: A K9 howitzer, delivered in the first batch of arms from South Korea under contracts signed in recent months, fires during a military drill at a military range in Wierzbiny near Orzysz, Poland, March 30, 2023. REUTERS/Kacper Pempel/File Photo

"Five local banks are reviewing a syndicated loan as a support measure" to help Poland finance its purchase of South Korean rocket artillery systems and fighter jets, a South Korean government official said, speaking on condition of anonymity to discuss ongoing planning. It is the first indication that Seoul is working to remove Poland's financing hurdles to enable the two countries to strike South Korea's biggest-ever weapons arms deal, estimated at around 30 trillion won .

 

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