EXIM to raise $3 billion from foreign markets in 2017-18
The Dollar Business Bureau David Rasquinha, MD, Export Import Bank of India, revealed that the premier export-promoting body aims to raise $2.5 billion – $3 billion from overseas markets in the current fiscal year. In 2016-17, EXIM had successfully raised an amount of over $2 million from foreign markets. Even if the deployment of these funds doesn't take place right away, it helps secure liquidity and enhances long term investment opportunities up to 20 years, the MD said. EXIM promotes Indian investment in Africa in the sectors of power, roads, railways, renewable energy, and agriculture. Of all its annual funding, about 50% goes towards countries in Africa. The export promotion agency supports long-term projects predominantly in SAARC, Africa, and the far east region. It sees potential for financial lending in the neighbouring countries of ...
$120.5 million Line of Credit to Rwanda
Dated December 29, 2014 | RBI/2014-15/369 | A.P. (DIR Series) Circular No.52 | Export-Import Bank of India (Exim Bank) has entered into an Agreement dated October 26, 2013 with the Government of the Republic of Rwanda for making available to the latter, a Line of Credit (LOC) of USD 120.05 million (USD One Hundred and Twenty million and fifty thousand) for financing [i] Export Targeted Modern Irrigated Agricultural Project (USD 60.22 million); and [ii] Extension of Export Targeted Modern Irrigated Agricultural Project (USD 59.83 million). The goods, machinery, equipment and services including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose ...
Exim Bank Lines of Credit for East Africa to Boost Indias Exports
Satyapal Menon | @TheDollarBiz Mombasa Port in Kenya. Kenya accounts for over 63% of India’s total exports to the EAC. The Export Import Bank of India says that Lines of Credit (LOCs) for the East African Community (EAC) is likely to strengthen India’s position as the top exporter to a region considered a virgin territory for investments and infrastructure development, and as a gateway to rest of Africa. The EAC is a regional group comprising the Republics of Burundi, Kenya, Rwanda, Tanzania, and Uganda. It is considered as a single market with around 125 million consumers, and is among the world’s rapidly growing economic regions. During 2002-2012, global trade of EAC surged more than five-fold from $8.9 billion to $49.3 billion, ...
