South Korea's Ministry of Economy and Finance announced that IDB Invest, the private-sector investment arm of the Inter-American Development Bank Group, has provided USD 700 million to support Posco Holdings’ lithium mining and production project in Argentina. The financing gives Posco access to operating funds, low-interest lending and tax benefits, reducing the project’s financing costs. The ministry linked the transaction to continued cooperation with the IDB Group and South Korea’s efforts to support companies entering Latin America and strengthen critical mineral supply chains. A Korean trust fund is also supporting the project’s due diligence process. Following an Aug. 27 meeting with IDB Invest management, the ministry said it plans to expand corporate support through trust fund programs and the Korea-Latin America Business Forum, while continuing cooperation with the IDB Group to facilitate the regional expansion of South Korean companies and professionals.
2026-08-28Ministry of Economy & Finance (South Korea)
South Korea's Ministry of Economy and Finance reports USD 700 million IDB Invest loan for Posco's Argentina lithium project
South Korea's Ministry of Economy and Finance reported that IDB Invest has provided USD 700 million for Posco Holdings’ lithium mining and production project in Argentina. The financing provides operating funds, low-interest lending and tax benefits, while supporting South Korea’s critical mineral supply chain strategy.