Exim Bank, BRICS member development banks ink MoU with New Development Bank
Source: PTI Export-Import Bank of India (Exim Bank) today said it has signed a multilateral agreement to cooperate with New Development Bank (NDB) along with other member development banks of BRICS nations. New Development Bank (NDB) is promoted by the BRICS nations -- Brazil, Russia, India, China, and South Africa. The agreement was signed between Exim Bank Chairman and Managing Director Yaduvendra Mathur and Chairpersons or Presidents of other member development banks of BRICS in Ufa, Russia during the BRICS Summit 2015, a bank release said. Exim Bank also signed a cooperation agreement with Brazilian Development Bank (BNDES). This MoU is aimed at sharing of knowledge, information and best practices; capacity building of personnel, including project development skills; promotion of joint events, ...
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, ...
