The Export-Import Bank of Korea (Korea Eximbank) says it plans to provide funding to Korean companies that are participating in overseas nuclear reactor construction projects.

Eximbank chairman Kim Dong-soo said that the bank will provide over US$9 billion for such firms. That is roughly half of the $20 billion in construction costs of a contract to build nuclear power plants in the United Arab Emirates that was won last December by a consortium led by Korea Electric Power Corporation.

The state-run lending agency said it will take part in the nuclear power plant business and do its best to help Korea become one of the top three nations in the field.