SEOUL ALLOCATED FUND WORTH $260 MILLION TO PYONGYANG FOR ROAD AND RAILWAY CONSTRUCTION PROJECTS




Mustafa AY – TDO – 09.11.2018 At the previous month, Seoul and Pyongyang administrations reached a consensus on reopening the road and railways between two nations into service. On Thursday, S. Korean Ministry of Unification announced that they will earmark $260 million to Pyongyang for renovation of outdated road and railway infrastructure in N. Korea. The ministry officials added that a part of $175 million will be granted without any condition of repayment while remaining part of $95 million will be transferred to N. Korea in loan.