Exim Bank. Export-Import Bank of India

PRESS RELEASES

Interactive Session for Indian Exporters on GoI’s new IDEAS guidelines in Chennai
Press Conference
Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines on Lines of Credit (LOCs) to Overseas Governments at The Raintree, Teynampet, Chennai, on February 01, 2016. From left: (i) Shri Nirmal Kumar Biswas, Deputy General Manager and Regional Head, Chennai Regional Office, Exim Bank, (ii) Mr R. Prabhakaran, CII, (iii) Shri Arun Sobti, Under Secretary [IDEAS], Department of Economic Affairs, Ministry of Finance, Government of India (iv) Shri Ajit Gupte, Joint Secretary (Development Partnership Administration Division), Ministry of External Affairs, Government of India, (v) Shri David Rasquinha, Deputy Managing Director, Exim Bank, (vi) Shri Chozha Nachiar Rajasekar, FICCI and (vii) Shri Jayaraman Krishnan, MCCI.

Export-Import Bank of India (Exim Bank) in association with the Government of India (GOI - Ministries of Finance and External Affairs) and leading industry associations (Confederation of Indian Industry, Federation of Indian Chambers of Commerce & Industry and Madras Chamber of Commerce & Industry), organised an “Interactive Session for Indian Exporters on the GOI’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments” on February 01, 2016 in Chennai, with the objective to disseminate the changes in the operational and procedural aspects, highlight the improvements and also discuss select case studies of projects supported under LOCs.

Exim Bank extends LOCs at the behest of the GOI, under the IDEAS, for supporting export of projects, equipment, goods and services from India, for (i) meeting India’s economic, political and strategic objectives, and (ii) creating a positive and sustainable socio-economic impact in the LOC-recipient country. Exim Bank has so far extended 200 LOCs in 62 countries with credit commitments aggregating USD 12.48 billion and 26 LOCs aggregating USD 4.41 billion in pipeline. Exim Bank’s flagship programmes such as Lines of Credit and Buyers’ Credit are designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.

The interactive session was addressed by Shri David Rasquinha, Deputy Managing Director, Exim Bank and included the presentation by Shri Ajit Gupte, Joint Secretary (Development Partnership Administration), Ministry of External Affairs, Government of India.

Speaking on the occasion, Shri Rasquinha gave a background of the IDEAS and noted that LOCs extended under the Scheme have contributed in increasing India’s exports and opened up new untapped markets for Indian companies, thereby enhancing the visibility of Indian technical capabilities overseas and the reputation as provider of high quality goods and services. Shri Rasquinha further mentioned that GOI has on December 07, 2015 released the new guidelines for LOCs, which empowers Exim Bank to play a greater role, which is aimed at creating more robust and transparent systems and procedures. Shri Ajit Gupte made presentation about the IDEAS, and its impact in building long term partnerships and goodwill for India with LOC recipient countries, reinforcing India’s economic interests globally.

The salient features of the new Guidelines include mandatory preparation of a Detailed Project Report preceding the project execution, appointment of an independent Project Management Consultant through competitive bidding process, prequalification of competent Indian companies and vetting of tender documents by Exim Bank, submission of bid evaluation report and draft contract by the LOC recipient country to Exim Bank and strengthening of the project monitoring mechanism under the LOCs.

The interactive session was attended by around 100 participants, who engaged in detailed interactions with the panellists on the procedural aspects of the new Guidelines. Exim Bank proposes to conduct a series of such interactive sessions with Indian exporters in major cities across India to disseminate the changes in the operational and procedural aspects of the new LOC Guidelines.

For further information, please contact Mr. Nadeem Panjetan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: 022-22172310 / 2216 2073, Fax: 022-22182460. E-mail: eximloc@eximbankindia.in

External Affairs Minister interacts with Top Management of Exim Bank
Press Conference

Hon'ble Union Minister for External Affairs, Mrs. Sushma Swaraj visited the Export-Import Bank of India (Exim Bank) on Saturday, January 30, 2016. She was welcomed by Exim Bank's Chairman and Managing Director Mr. Yaduvendra Mathur and Deputy Managing Directors, Mr. David Rasquinha and Mr. Debasish Mallick.

Mrs. Swaraj was briefed about the recent initiatives of the Bank for export promotion and facilitation through the Bank's range of products and services like the Overseas Investment Finance Programme, Project Exports Finance, Buyers' Credit under the National Export Insurance Account (NEIA), Lines of Credit (LOC) and advisory services.

While interacting with the Top Management of the Bank, Mrs. Swaraj appreciated Exim Bank's efforts in promoting the country's international trade. She noted the effective use of the Government of India's Lines of Credit, extended by Exim Bank which have helped many Indian exporters in entering newer and non-traditional markets.

Exim Bank officials reported to the Hon’ble External Affairs Minister that stakeholders have conveyed appreciation of the revised LOC Guidelines notified by Government in December 2015. The revised Guidelines have streamlined the LOCs process making the entire "project conception to completion cycle" transparent and competitive so that only the best projects, goods and services from India are exported under the LOCs. The Hon’ble Minister was also apprised of the Exim Bank’s issuance of Green Bonds in 2015.

The 5-year Reg S Green Bond issue of US$ 500 mn in March 2015 was significant as it had attracted subscription of around 3.2 times the issue size led by strong demand, across 140 accounts. It was the first USD-denominated Green bond offering out of India as well as the first benchmark-sized Green bond out of Asia in 2015 and the third ever Green bond issuance out of Asia

Mrs. Swaraj also noted Exim Bank's initiatives under GoI’s ‘Act East’ policy in assessing business opportunities for India in Cambodia, Lao PDR, Myanmar and Vietnam (CLMV’ countries) and to establish a Project Development and Facilitation Framework for the region.

Export-Import Bank of India (Exim Bank) is India’s premier financial institution engaged in financing, facilitating and promoting India’s international trade and investment. The Bank was set up the Export-Import Bank of India Act, 1981 and commenced operations in March 1982. Exim Bank is fully owned by the Government of India.

For further information, please contact Ms. Deepali Agrawal, General Manager, Corporate Communications Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005. Telephone 22172829, E-mail: deepali@eximbankindia.in

Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines on Lines of Credit (LOCs) to Overseas Governments
Press Conference
Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines on Lines of Credit (LOCs) to Overseas Governments at The Gateway Hotel, EM Bypass Road, Kolkata, on January 16, 2016. From left: (i) Shri Ramesh Babu, Deputy General Manager and Regional Head, Kolkata Regional Office, Exim Bank, (ii) Mrs. Geeta Poojary, Chief General Manager, Exim Bank, (iii) Shri David Rasquinha, Deputy Managing Director, Exim Bank, (iv) Shri Ajit Gupte, Joint Secretary (Development Partnership Administration Division), Ministry of External Affairs, Government of India, (v) Shri Arun Garodia, Regional Chairman (ER), EEPC and (vi) Ms. Perminder Kaur, Regional Director, ASSOCHAM.

Export-Import Bank of India (Exim Bank) in association with the Government of India (GOI - Ministries of Finance and External Affairs) and leading industry associations (ASSOCHAM and EEPC), organised an “Interactive Session for Indian Exporters on the GOI’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments” on January 16, 2016 in Kolkata, with the objective to disseminate the changes in the operational and procedural aspects, highlight the improvements and also discuss select case studies of projects supported under LOCs.

Exim Bank extends LOCs at the behest of the GOI, under the IDEAS, for supporting export of projects, equipment, goods and services from India, for (i) meeting India’s economic, political and strategic objectives, and (ii) creating a positive and sustainable socio-economic impact in the LOC-recipient country. Exim Bank has so far extended 200 LOCs in 62 countries with credit commitments aggregating USD 12.48 billion and 26 LOCs aggregating USD 4.41 billion in pipeline. Exim Bank’s flagship programmes such as Lines of Credit and Buyers’ Credit are designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.

The interactive session was addressed by Shri David Rasquinha, Deputy Managing Director, Exim Bank and included presentations by Shri Ajit Gupte, Joint Secretary (Development Partnership Administration), Ministry of External Affairs; and Smt. Geeta Poojary, Chief General Manager, Exim Bank.

Speaking on the occasion, Shri Rasquinha gave a background of the IDEAS and noted that LOCs extended under the Scheme have contributed in increasing India’s exports and opened up new untapped markets for Indian companies, thereby enhancing the visibility of Indian technical capabilities overseas and the reputation as provider of high quality goods and services. Shri Rasquinha further mentioned that GOI has on December 07, 2015 released the new guidelines for LOCs, which empowers Exim Bank to play a greater role, which is aimed at creating more robust and transparent systems and procedures. Shri Ajit Gupte made presentation about the IDEAS, and its impact in building long term partnerships and goodwill for India with LOC recipient countries, reinforcing India’s economic interests globally. Smt. Geeta Poojary made a presentation of the projects executed under the LOCs and highlighted their benefits and socio economic impact on the borrowing countries.

The salient features of the new Guidelines include mandatory preparation of a Detailed Project Report preceding the project execution, appointment of an independent Project Management Consultant through competitive bidding process, prequalification of competent Indian companies and vetting of tender documents by Exim Bank, submission of bid evaluation report and draft contract by the LOC recipient country to Exim Bank and strengthening of the project monitoring mechanism under the LOCs.

The interactive session was attended by around 50 participants from over 20 Indian companies, who engaged in detailed interactions with the panellists on the procedural aspects of the new Guidelines. Exim Bank proposes to conduct a series of such interactive sessions with Indian exporters in major cities across India to disseminate the changes in the operational and procedural aspects of the new LOC Guidelines.

For further information, please contact Mr. Nadeem Panjetan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: 022-22172310 / 2216 2073, Fax: 022-22182460. E-mail: eximloc@eximbankindia.in
Exim Bank Signs and MoU with Government of Andhra Pradesh to facilitate State’s Exports

Exim Bank of India and the Government of Andhra Pradesh have entered into a Memorandum of Understanding (MoU) for promotion of exports from Andhra Pradesh.  The MoU was signed by the Chairman and Managing Director of the Bank, Mr. Yaduvendra Mathur, and Mr. Shamsher Singh Rawat, Secretary and Commissioner for Industrial Promotion, Government of Andhra Pradesh.

Exim Bank seeks to support the exporters having operations in Andhra Pradesh in achieving higher exports by facilitation of market linkages through its market advisory services, which will assist in identifying suitable partners. Besides, the Bank would help develop skills through capacity building workshops, help the exporters’ participation in select trade fairs and exhibitions, and through research activities.

Exim Bank would also use its strong institutional linkages that it has developed over the years with institutions in advanced markets like USA, Singapore, Japan, Australia, EU, etc, and facilitate technology transfer to the technology-seeking enterprises in Andhra Pradesh. 

With its presence through a Regional Office in Hyderabad, the Bank is desirous of further extending funding facilities to exporters from the State so as to provide them opportunity to access the global market. 

For further information, please contact Mr. S. Prahalathan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21; World Trade Centre Complex; Cuffe Parade, Mumbai – 400005, Telephone: 91-22-2217 2704, E-mail: prahalthan@eximbankindia.in
Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines on Lines of Credit (LOCs) to Overseas Governments
Press Conference
Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines on Lines of Credit (LOCs) to Overseas Governments at Hotel Taj Vivanta, Trinity Hall, M.G. Road, Bangalore, on January 12, 2016. From left: (i) Shri Sandeep Kumar, Deputy General Manger and Regional Head, Bangalore Regional Office, Exim Bank, (ii) Mrs. Geeta Poojary, Chief General Manager, Exim Bank, (iii) Shri Deepak Pathak, Director, Development Partnership Administration Division, Ministry of External Affairs, Government of India, (iv) Shri David Rasquinha, Deputy Managing Director, Exim Bank and (v) Shri Asad Wasi, Director, ASSOCHAM and (vi) Shri P. Radhakrishnan, Director, FICCI, Karnataka State Council.

Export-Import Bank of India (Exim Bank) in association with the Government of India (GOI –Ministry of Finance and Ministry of External Affairs) and leading industry associations (ASSOCHAM, CII and FICCI), organised an “Interactive Session for Indian Exporters on the GOI’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments” on January 12, 2016 at Bangalore, with the objective to disseminate the changes in the operational and procedural aspects, highlight the improvements and also discuss select case studies of projects supported under LOCs.

Exim Bank extends LOCs at the behest of the GOI, under the IDEAS, for supporting export of projects, equipment, goods and services from India, for (i) meeting India’s economic, political and strategic objectives, and (ii) creating a positive and sustainable socio-economic impact in the LOC-recipient country. Exim Bank has so far extended 200 LOCs in 62 countries with credit commitments aggregating USD 12.48 billion and 26 LOCs aggregating USD 4.41 billion in pipeline. Exim Bank’s flagship programmes such as Lines of Credit and Buyers’ Credit are designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.

The interactive session was addressed by Shri David Rasquinha, Deputy Managing Director, Exim Bank and included presentations by Shri Deepak Pathak, Director, Development Partnership Administration Division, Ministry of External Affairs, Government of India; and Smt. Geeta Poojary, Chief General Manager, Exim Bank.

Speaking on the occasion, Shri Rasquinha gave a background of the IDEAS and noted that LOCs extended under the Scheme have contributed in increasing India’s exports and opened up new untapped markets for Indian companies, thereby enhancing the visibility of Indian technical capabilities overseas and the reputation as provider of high quality goods and services. Shri Rasquinha further mentioned that GOI has on December 07, 2015 released the new guidelines for LOCs, which empowers Exim Bank to play a greater role, which is aimed at creating more robust and transparent systems and procedures. Shri Deepak Pathak made presentations on GOI’s new IDEAS, and its impact in building long term partnerships and goodwill for India with LOC recipient countries, reinforcing India’s economic interests globally. Smt. Geeta Poojary made a presentation of the projects executed under the LOCs and highlighted their benefits and socio economic impact on the borrowing countries.

The salient features of the new Guidelines include mandatory preparation of a “Detailed Project Report” preceding the project execution, appointment of an independent “Project Management Consultant” through competitive bidding process, prequalification of competent Indian companies and vetting of tender documents by Exim Bank, submission of bid evaluation report and draft contract by the LOC recipient country to Exim Bank and strengthening of the project monitoring mechanism under the LOCs.

The interactive session was attended by around 100 participants from over 60 Indian companies, who had detailed interactions with the panellists on the procedural aspects of the new Guidelines. Exim Bank proposes to conduct a series of such interactive sessions with Indian exporters in major cities across India to disseminate the changes in the operational and procedural aspects of the new LOC Guidelines.

For further information, please contact Mr. Nadeem Panjetan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: 022-22172310 / 2216 2073, Fax: 022-22182460. E-mail: eximloc@eximbankindia.in
EXIM BANK OF INDIA RAISES US$ 500 MN FOR 5.5 YEAR TENOR AT A COUPON OF 3.125% PER ANNUM

The Export-Import Bank of India, successfully launched a 5.5 year Reg S Bond issue of US$ 500 mn on January 13, 2016. The issue attracted a total order book in excess of USD 1.25 bn. thereby achieving 2.5x oversubscription of the issue size from over 110 investors. The funds thus raised will be used by the Bank to support Indian project exports and overseas investment by way of long term credit.

The 5.5 year US$ 500 mn Eurodollar bond issue was priced at 165 basis points over US Treasuries (UST) at a fixed coupon of 3.125% p.a. providing minimal NIP against a very conservative market backdrop with volatility in equity markets, declining crude prices and simmering geopolitical tensions. This tightly priced benchmark size transaction paves the way for other issuers from India. Citigroup, JP Morgan and Standard Chartered Bank acted as Joint Lead Managers and book runners for the offering. Exim Bank of India has been rated as ‘BBB-’ by Standard and Poor’s and ‘Baa3’ by Moody’s, same as the rating of Government of India.

Speaking on the occasion, Mr. Yaduvendra Mathur, Chairman and Managing Director of Exim Bank, said, “The size of the order book and the quality of the investor names showcases the market’s confidence in India as well as the Exim Bank, particularly in a challenging market. We have worked assiduously to maintain communication bridges with overseas investors and to sell the India story”.

The Notes were distributed to high quality fixed income accounts such as asset management companies, public and private banks, pension funds, insurance companies and central banks as well as sovereign wealth funds. Over 47% of the issue was distributed to Asian investors, 46% to European and Middle East investors and remainder primarily to offshore US investors. Mr. David Rasquinha, Deputy Managing Director of Exim Bank, commented, “The transaction was priced with minimal new issue premium amidst very tentative markets, where most of the highly rated, repeat issuers from Asia have paid higher single digit new issue premium for their issuances from start of the year. Exim Bank had been closely monitoring the market for an opportune window since the beginning of the year and the swift intra-day execution allowed us to take advantage of supportive market backdrop amid recent volatility and challenging market conditions”.

Exim Bank aims to promote India’s international trade and investment. The Bank offers Indian companies a comprehensive range of products and services, supported by analysis and research, with a view to enhancing their international competitiveness. The Bank aggressively supports Indian exporting companies, especially medium-sized enterprises, in their globalisation efforts through a variety of lending programmes.

For further information, please contact Mr. Samuel Joseph, Chief General Manager, Treasury & Accounts Group, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400005. Telephone 22172644, Fax: 22182497; E-mail: Exim Bank’s Study highlights Potential for Enhancing India’s Engagements with Cambodia, Lao PDR, Myanmar, Vietnam (CLMV)
Press Conference
Release of Exim Bank's publication on “Act East: Enhancing India’s Engagements with Cambodia, Lao PDR, Myanmar, Vietnam (CLMV)” at the hands of Ms Nirmala Sitharaman, Hon’ble Minister of State for Commerce & Industry (Independent Charge), Government of India; Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry (CII) (first from left); Mr Somchith Inthamith, Vice Minister of Industry and Commerce, Lao PDR (second from left); Mr Sun Chanthol, Senior Minister, Ministry of Commerce, Kingdom of Cambodia (third from left); Mr Debasish Mallick, Deputy Managing Director, Export-Import Bank of India (fourth from left); Mr Yaduvendra Mathur, Chairman and Managing Director, Export-Import Bank of India (sixth from left); Dr Pwint San, Deputy Minister, Ministry of Commerce, Myanmar (seventh from left); Mr Nguyen Cam Tu, Deputy Minister, Ministry of Industry and Trade, Vietnam (eighth from left); Mr Ravi Capoor, Joint Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India (ninth from left); Ms Shobhana Kamineni, Vice-President, CII and Executive Vice Chairperson, Apollo Hospitals Enterprise Ltd. (tenth from left) at the 3rd India-CLMV Business Conclave, held at the Mamallapuram, Tamil Nadu, on January 12, 2016.

Export-Import Bank of India (Exim Bank)’s study on “Act East: Enhancing India’s Engagements with Cambodia, Lao PDR, Myanmar, Vietnam (CLMV)” was released at the hands of Ms Nirmala Sitharaman, Hon’ble Minister of State for Commerce & Industry (Independent Charge), Government of India, at the 3rd India-CLMV Business Conclave, held at Mamallapuram, Tamil Nadu, on January 12, 2016.

The study dwells on the strategic importance of CLMV countries for India. It states that in addition to the geographical advantage of being located near fast-growing economies, CLMV countries have the advantage of having access to wide ranges of markets through economic partnership agreements with various countries.

Exim Bank’s latest study highlights immense opportunities for investments presented by CLMV countries, and noted that Indian investments in the CLMV region have been relatively low, as compared to investments from non-ASEAN partners, viz. China, Japan, South Korea and the United Kingdom.

India’s adoption of ‘Look East’ Policy (now ‘Act East’) in 1992 was an initiative towards developing extensive economic and strategic relations with ASEAN nations (including CLMV countries). India has since progressed from a dialogue partner to the present status of a strategic partner with ASEAN.

With India’s policy initiatives in place, Exim Bank’s study identifies select sectors in each of the four CLMV countries, for Indian investors to harness the region’s untapped potential, thus, making it mutually rewarding for both India and the region. Emerging opportunities that could be explored by Indian companies in the region besides trade include investments in potential sectors such as agriculture and allied activities, manufacturing, healthcare, mining, development of information technology, among others, through joint ventures with local or foreign partners or wholly owned subsidiaries.

The study highlights infrastructure development as an important area of critical importance for the CLMV region. Infrastructure coverage of the CLMV region is amongst the lowest in the ASEAN region, which is mainly due to limited economic capacity of the countries to invest in infrastructure. Development of infrastructure essentially encompasses rail, road or airport connectivity, logistics, water supply, power, among others. Further, the study suggests that development of essential trade related infrastructure for enhancing connectivity with India such as ports, maritime routes, roads, warehouses, exclusive economic zones, industrial clusters/ corridors, among others, could be explored.

For further information, please contact Mr. David Sinate Chief General Manager Research & Analysis Group Export Import Bank of India Centre One Building, Floor 21 World Trade Centre Complex Cuffe Parade, Mumbai - 400005 Telephone: 91-22-2217 2701 Fax: 91-22-2218 0743 E-mail: dsinate@eximbankindia.in
Exim Bank Study: West Bengal has the Potential to Emerge as Export Hub for the Eastern India
Press Conference
Exim Bank’s Research Study titled, “Exports from West Bengal: Potential & Strategy” released by Ms. Mamata Banerjee, Hon’ble Chief Minister of West Bengal, in the presence of Dr. Amit Mitra, Hon’ble Minister for Finance, Commerce and Industry, Government of West Bengal, and Mr. Yaduvendra Mathur, Chairman and Managing Director, Exim Bank of India

Taking cognizance of the number of international agreements (connecting Eastern part of India), with which India is a part of it, and leveraging such agreements, the State of West Bengal could further position itself as an Export Hub for India in the Eastern Region, says a Study by Exim Bank.. The Study titled ‘Export from West Bengal: Potential & Strategy’ was released at the hands of Ms. Mamata Banerjee, Hon’ble Chief Minister of the Government of West Bengal, at the Bengal Global Business Summit on January 9, 2016.

This Strategy Paper elucidates and identifies industries which are traditionally strong in the State and which could be further strengthened, while addressing the challenges faced by these industries. These include tea, leather, food processing, IT, hospitals, amongst others. Creating a hi-tech based electronic industry has also been prescribed given its spillovers in terms of positive job creation and an appetite for such products both in India and overseas.

It is also important to take note of the fact that the global trade environment is changing with the culmination of a number of mega trade agreements, which is likely to change the manufacturing landscape, and hence the production processes in the State also need to get aligned with the altering global value chain.

West Bengal, as it strives towards providing a robust export framework, need to not only make existing industries more competitive, but also need to realize its potential to attract new international and national investments in the manufacturing sector, the Study outlined. The State may consider focusing on strengthening the existing ecosystem of growth and development, world class infrastructure facilities, that would help create additional employment for urban and rural youth, besides adding value to products that are produced in the State, the Study added.

During the Summit, Exim Bank of India and the Government of West Bengal have also entered into a Memorandum of Understanding (MoU) on January 9, 2016. The MoU was signed by the Chairman and Managing Director of the Bank, Mr. Yaduvendra Mathur, and Mr. Dr. S. Kishore, Principal Secretary, Commerce and Industries, Government of West Bengal.

Exim Bank seeks to support the exporters having operations in West Bengal in achieving higher exports by facilitation of market linkages through its market advisory services, which will assist in identifying suitable partners. Besides, the Bank would help develop skills through capacity building workshops, help the exporters’ participation in select trade fairs and exhibitions, and through research activities.

Exim Bank would also use its strong institutional linkages that it has developed over the years with institutions in advanced markets like USA, Singapore, Japan, Australia, EU, etc, and facilitate technology transfer to the technology-seeking enterprises in West Bengal.

With its presence through a Regional Office in Kolkata, the Bank is desirous of further extending funding facilities to exporters from the State so as to provide them opportunity to access the global market.

For further information, please contact: Mr. S Prahalathan, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21; World Trade Centre Complex; Cuffe Parade, Mumbai – 400005, Telephone: 91-22-2217 2704, E-mail: prahalthan@eximbankindia.in
Interactive Session for Indian Exporters on the Government of India’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments
Press Conference
Shri Yaduvendra Mathur, IAS, Chairman & Managing Director, Exim Bank (extreme left) delivering the keynote address, at the ‘Interactive Session for Indian Exporters on the GOI’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments’ on December 28, 2015 in New Delhi. Seated left to right, Mrs. Geeta Poojary, Chief General Manager, Exim Bank; Shri David Rasquinha, Deputy Managing Director, Exim Bank; Shri Ajit Gupte, Joint Secretary (DPA 1), MEA; Shri S. Selvakumar, Joint Secretary (ABC), DEA-MOF; and representatives from ASSOCHAM, CII and FICCI

Export-Import Bank of India (Exim Bank) in association with the Government of India (GOI - Ministries of Finance and External Affairs) and leading industry associations (ASSOCHAM, CII and FICCI), organised an “Interactive Session for Indian Exporters on the GOI’s new Indian Development and Economic Assistance Scheme (IDEAS) Guidelines for Lines of Credit (LOCs) to Overseas Governments” on December 28, 2015 in New Delhi, with the objective to disseminate the changes in the operational and procedural aspects, highlight the improvements and also discuss select case studies of projects supported under LOCs.

Exim Bank extends LOCs at the behest of the GOI, under the IDEAS, for supporting export of projects, equipment, goods and services from India, for (i) meeting India’s economic, political and strategic objectives, and (ii) creating a positive and sustainable socio-economic impact in the LOC-recipient country. Exim Bank has so far extended 200 LOCs in 62 countries with credit commitments aggregating USD 12.48 billion and 26 LOCs aggregating USD 4.41 billion in pipeline. Exim Bank’s flagship programmes such as Lines of Credit and Buyers’ Credit are designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.

The interactive session was addressed by Shri Yaduvendra Mathur, IAS, Chairman & Managing Director, Exim Bank and included presentations by Shri S. Selvakumar, Joint Secretary (ABC), Department of Economic Affairs, Ministry of Finance; Shri Ajit Gupte, Joint Secretary (Development Partnership Administration), Ministry of External Affairs; and Shri David Rasquinha, Deputy Managing Director, Exim Bank.

Speaking on the occasion, Shri Mathur gave a background of the IDEAS and noted that LOCs extended under the Scheme have contributed in increasing India’s exports and opened up new untapped markets for Indian companies, thereby enhancing the visibility of Indian technical capabilities overseas and the reputation as provider of high quality goods and services. Shri Mathur further mentioned that GOI has on December 07, 2015 released the new guidelines for LOCs, which empowers Exim Bank to play a greater role, which is aimed at creating more robust and transparent systems and procedures. Shri S. Selvakumar and Shri Ajit Gupte made presentations about the IDEAS, and its impact in building long term partnerships and goodwill for India with LOC recipient countries, reinforcing India’s economic interests globally. Shri David Rasquinha made a presentation of the projects executed under the LOCs and highlighted their benefits and socio economic impact on the borrowing countries.

The salient features of the new Guidelines include mandatory preparation of a Detailed Project Report preceding the project execution, appointment of an independent Project management Consultant through competitive bidding process, prequalification of competent Indian companies and vetting of tender documents by Exim Bank, submission of bid evaluation report and draft contract by the LOC recipient country to Exim Bank and strengthening of the project monitoring mechanism under the LOCs.

The interactive session was attended by around 200 participants from over 100 Indian companies, who engaged in detailed interactions with the panellists on the procedural aspects of the new Guidelines. Exim Bank proposes to conduct a series of such interactive sessions with Indian exporters in major cities across India to disseminate the changes in the operational and procedural aspects of the new LOC Guidelines.

For further information, please contact
Mr. Nadeem Panjetan,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: 022-22172310 / 2216 2073,
Fax: 022-22182460.
E-mail: eximloc@eximbankindia.in
EXIM Bank’s Study Highlights India’s Trade and Investment Potential with Turkey
Press Conference

EXIM Bank's latest research publication on "Turkey: A study of India's trade and investemnt potential" being released on November 2, 2015. At the hands of H.E. Mr. Erdal Sabro Ergen, consul General of Turkey in Mumbai in the presence of Mr, Yaduvendra Mathur, Chairman and Managing Director, EXIM Bank.

Export-Import Bank of India (EXIM Bank)'s publication on "Turkey: A Study of India’s Trade and Investment" was released at the hands of H.E Mr. Erdal Sabro Ergen, Consul General of Turkey in the presence of Mr. Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank at the 92nd National Day of the Republic of Turkey Celebration hosted by the Office of Consulate General of Turkey at Hotel Taj Mahal Palace and Towers, Mumbai.

The study draws attention to the fact that India's India’s economic and commercial co-operationwith Turkey has deepened over the years and constitutes an important dimension of the bilateral relationship. India’s bilateral trade with Turkey has increased significantly by more than five-fold in the last decade, with a total trade of US$ 7.5 billion in 2014. While India’s exports to Turkey amounted to US$ 6.9 billion in 2014, accounting for 2.8 percent of Turkey’s global imports, India’s imports from Turkey have also risen, from US$ 219.9 million in 2005 to US$ 586.7 million in 2014, depicting close to a three-fold increase. As a result, India’s trade surplus with Turkey has risen significantly over the last few years.

The study identifies major potential imports of Turkey up to 6-digit HS commodity code, which could be exported from India, keeping in view India’s global export capability. The potential items for India's exports to Turkey identified broadly include, inter alia, mineral fuels and distillation products; machinery and instruments; electrical and electronic equipment; iron and steel; vehicles other than railway, tramway; plastics and articles; pearls and precious stones; pharmaceutical products; rubber and articles; cereals.

The study also dwells upon investment opportunities in key sectors in Turkey, and delineates broad strategies to enhance and foster India's commercial relations with Turkey. Identified sectors include agriculture and food processing; alternative/renewable energy; healthcare; transport and logistics; and tourism.

Exim Bank Extends Buyer’s Credit Under National Export Insurance Account [NEIA] )Of USD 69.75 mn To The Government Of Senegal
Press Conference
Export-Import Bank of India [Exim Bank] has extended a Buyer’s Credit [BC] under National Export Insurance Account [NEIA] of USD 69.75 mn to the Government of Senegal for financing export of vehicles from India to Senegal. The BC-NEIA Agreement to this effect was signed in New Delhi, on January 06, 2016, by Mr. Debasish Mallick, Deputy Managing Director, on behalf of Exim Bank and     H.E. Mr. El Hadji Ibou Boye, Ambassador of Senegal in India, on behalf of the Government of Senegal.  

BC-NEIA is a unique financing mechanism that provides a safe mode of nonrecourse financing option to Indian exporters and serves as an effective market entry tool to traditional as well as new markets in developing countries, which need deferred credit on medium or long term basis.

Exim Bank has till date sanctioned USD 2.05 bn for 20 projects valued USD 2.25 bn. Further, Exim Bank has also given in-principle commitments for supporting several projects, at the behest of leading Indian project exporters, in order to enable these Indian companies to submit bids / negotiate contracts with overseas project authorities.  Besides promoting India’s exports, Exim Bank's BC-NEIA programme enable demonstration of Indian expertise and project execution capabilities in emerging markets.

For further information, please contact
Ms. Harsha Bangari,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: 022-22172301 / 022-22181489,
Fax: 022- 22188268
E-mail : harsha@eximbankindia.in / peg@eximbankindia.in
Export-Import Bank of India and Export-Import Bank of Malaysia Berhad sign MoU to enhance cooperation in financing
Press Conference

Mr. Yaduvendra Mathur, Chairman & Managing Director, Export-Import Bank of India and Ms. Norzilah Mohammed, Acting Chief Executive Officer, Export- Import Bank of Malaysia Berhad at the MOU signing ceremony on Tuesday, December 1, 2015 at Tokyo, Japan.

A Memorandum of Understanding (MoU) was signed today between Export-Import Bank of India and Export-Import Bank of Malaysia Berhad, to strengthen cooperation in financing, guaranteeing and other financial mechanism to support projects of interest to both the Banks. The MoU was signed by Mr. Yaduvendra Mathur, Chairman & Managing Director, Export-Import Bank of India, and Ms. Norzilah Mohammed, Acting Chief Executive Officer, Export-Import Bank of Malaysia Berhad, in Tokyo, on the sidelines of the 21st Annual Meeting of the Asian EXIM Banks Forum (AEBF).
 
While both these institutions are cooperating with each other under the umbrella of Asian EXIM Banks Forum, through this MoU, both these institutions intend to identify areas of cooperation in providing funding support for Indian companies setting up operations in Malaysia, and Malaysian companies setting up operations in India. Under the MoU, both the Banks shall also endeavor to finance infrastructure and other projects in third countries where Malaysian and Indian enterprises are involved, and with a view to promoting economic cooperation and industrial development, as per their respective mandates. Possibilities of financing in local currencies of eligible projects including project finance, equipment financing, export and import financing, overseas investment financing etc. in accordance with laws, regulations and regulatory requirements of India and Malaysia, will also be explored, under this MoU. The MoU further enhances the scope of information and knowledge sharing between the two Banks.

EXIM Bank of India organises training programme for women weavers in Uttarakhand
Press Conference

Post the devastating floods at the temple town in Kedarnath in June 2013, Export-Import Bank of India (EXIM Bank) organized a training programme with a view of providing sustainable livelihoods and women empowerment to the affected families in the region of Dewali-Bhanigram village in Rudraprayag district, Uttarakhand.

Mandakini Women Weavers Association, which was promoted by Panchachuli Women Weavers Association, brings together over 300 women from seven of the worst affected villages into groups to teach them spinning, knitting, embroidery and weaving under four common facility centers. A total of 30 rural women with potential, otherwise having no other access to alternative sources of income participated and are getting trained in an intensive program by master trainers from the region for a period of six months to enhance their skills. The training involves spinning, weaving, knitting and embroidery to develop hand woven and knitted products like Shawl, Stoles & Scarves made from rare wools such as tibetan and mongolian cashmere, lambswool, eri silk and local fibres and materials. The objective of the training programme is to develop required skills among weavers with an effort to create necessary awareness on advanced weaving techniques which will provide support leading to promotion of domestic as well as international business of high quality hand-crafted products. The program will culminate by the year end.

Ms. Deepali Agrawal, General Manager, EXIM Bank, informed the participants that the Bank has been working towards capability creation of artisans across India, helping them to reach the global markets. The Bank has been assisting several artisans across India in value addition, design sensitation and product development in its attempt to nurture and globalize the rich art and craft of the country. Ms. Sunita Bhatt, President, Mandakini Women Weavers Association, due to the training these beneficiaries were able to move to commercial production and these beneficiaries will now work as permanent employees under Mandakini Pvt Ltd, which is under registration process. Dr. H.K. Bagwari, Director, Mandakini Women Weavers Association, stated that the Workshop is providing much needed impetus to the women weavers which helps them in designing new products and provides regular income for disaster affected families. He further informed, with the new products being developed during the training, Mandakini is now ready to attend exhibitions and sell its products commercially.

EXIM Bank of India through its Marketing Advisory Services plays a promotional role to create and enhance export capabilities and international competitiveness of Indian companies. EXIM Bank assists in identification of opportunities overseas and seeks to help Indian exporting forms in their globalization efforts by proactively assisting in locating overseas distributors / buyers / partners for their products and services. The Bank extends support and promotes grassroots enterprises by providing specific interventions such as assistance in skill development, product development and export readiness, as well.

Strategy On Service Sector Seminar Bangalore
Press Conference
Shri David Rasquinha, Deputy Managing Director, Exim Bank, Dr. H.A.C. Prasad, Senior Economic Advisor, Ministry of Finance and Shri Tallam R Dwarkanath President FKCCI at an Interactive Meeting on “Strategy for Services Sector” at Hotel Taj Vivanta, M.G Road, Bangalore on November 20, 2015

An interactive meeting on “Strategy for Services Sectors” was organized at Hotel Taj Vivanta, M.G. Road Bengaluru by Export-Import Bank of India (Exim Bank) in association with the Ministry of Finance, Government of India and Federation of Karnataka Chamber of Commerce and industry (FKCCI). The objective of the meeting was to interact with key players in different services sectors with a view to generating suggestions and inputs for formulating a medium term strategy for India’s services sector and exports. The meeting was presided by Dr. H.A.C. Prasad, Senior Economic Advisor, Ministry of Finance alongwith Shri David Rasquinha, Deputy Managing Director, Exim Bank and Shri Tallam R Dwarkanath President,FKCCI.

Shri David Rasquinha, Deputy Managing Director, Exim Bank, in his welcome address, deliberated on the comparative advantage of India in the global economy in the services sector.   It was highlighted that while software exports have continued to underpin the buoyancy in India’s services exports, trends non-software services exports viz. architectural, engineering, technical services, business management and consultancy services etc. have shown positive trends.  India has significant potential in offering services of management consultancy, R&D services, legal services, accounting and auditing services, healthcare services etc. 

Shri Tallam R Dwarkanath, President, FKCCI, in his remarks iterated the importance of Services Industry which forms the backbone Karnataka region. He highlighted emergence of Service Sector as the largest and fastest growing sectors in the world economy and its contribution to the global output and employment.  

Dr. H.A.C. Prasad highlighted the global macroeconomic indicators, slowdown in emerging markets and a weaker recovery in advanced economies.  Global activity is projected to gather some pace in 2016.  In advanced economies, the modest recovery that started in 2014 is projected to strengthen further.

Dr. H.A.C Prasad also highlighted the currency devaluation initiatives undertaken by China followed by other economies i.e. Brazil, Malaysia, Mexico, South Africa, and Thailand which affected India’s competitiveness during March to Oct. 2015 [determined by Real Effective exchange rate (REER)].  He stressed upon the focus on exchange rate and inflationary measures to make Indian’s economy competitive.  The share of services in world income declined from 68.8 per cent in 2001 to 66 per cent in 2013, while its share in employment increased from 39.1 per cent to 45.1 per cent.

It was also observed that Services Export and Import growths have moved to negative territory in Q1 of 2015 for India, World and many important services trading countries as per WTO data.  In 2009, following the International financial crisis, world services export growth had turned negative at (–) 10.9 percent.  It was also negative for all major service exporters in 2009.  In both Q1 and Q2 of 2015 it was negative at (-) 5.1 % and (-) 8.1 % respectively for World. It was also negative for Germany (-12.9% and -13.6 %), Hong Kong (-0.3% and 0.1 %), India (-1.9% and 1.3 %), Singapore (-5.5 %and -2.4 %) and  UK (-4.5% and -6.5 %). In countries like Thailand it is positive (15.1% and 21.8 % ) due to base effect.

Dr. H.A.C. Prasad highlighted the reforms undertaken by the Government viz. Electronic Travel Authorization (ETA), an initiative to boost to tourism, Electronic Tourist Visa (eTV) has been further extended to 36 more countries and 7 more Indian airports. The Govt. has undertaken rapid expansion of port capacity and development of inland and coastal navigation under Sagarmala Project improving Port Connectivity and Coastal Berths.  The govt. is focusing on hardware and software combination to move up the value chain and launched Digital India initiatives, FDI related Reforms and liberalization touching upon 15 major Sectors of the Economy.

For further information, please contact

Mr. S. Prahalathan,
Chief General Manager,
Export-Import Bank of India, Centre One, Floor 21,
World Trade Centre, Cuffe Parade,
Mumbai 400 005
Telephone : 2216 0364 / 2217 2704,
Fax : 2218 0743;
E-Mail : prahalathan@eximbankindia.in
EXIM Bank of India Signs an MOC with GoCoop
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Mr. Debasish Mallick, Deputy Managing Director, EXIM Bank (right) and Mr. Siva Devireddy, Founder and Managing Director, GoCoop during the signing of the Memorandum of Cooperation

Export-Import Bank of India (EXIM Bank) today signed a Memorandum of Cooperation (MOC) with GoCoop Solutions and Services Pvt. Ltd (GoCoop). GoCoop.com, India’s first social marketplace for easy and transparent sourcing of craft products, is an eCommerce platform that enables co-operatives, community-based artisans and weavers to list and sell their produce online. The technology platform developed by GoCoop and its marketing services provide co-ops in India with access to national and international markets, fair and efficient business dealings, and the means to raise the standard of living of millions of low-income producers.

Under the MOC, both EXIM Bank and GoCoop will work on export market development for Craft products and share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory.

The MOC was signed by Mr. Debasish Mallick, Deputy Managing Director, EXIM Bank and Mr. Siva Devireddy, Founder and Managing Director, GoCoop at EXIM Bank’s Head Office in Mumbai on November 05, 2015. Speaking on the occasion, Mr. Debasish Mallick highlighted that EXIM Bank has been striving towards promotion of exports of products from rural grassroots business enterprises, by providing them with an array of services including those related to financial support, capacity building, and export marketing. Mr. Mallick pointed out that the underlying objective is to augment sustainable employment opportunities and exports from the disadvantaged sections of rural India by widening their market beyond the domestic shores. EXIM Bank has supported various grassroots enterprises across different parts of the country. Mr. Mallick emphasized that this partnership with GoCoop was a part of EXIM Bank's outreach strategy to target a wider spectrum of grassroots organizations and would supplement the Bank's efforts towards boosting exports of handloom and handicraft products from India.

Expressing his happiness in working with EXIM Bank, Mr. Siva Devireddy, Founder and Managing Director of GoCoop, said “Handloom and Handicraft sector has a big export market which continues to grow. GoCoop’s objective is to provide great service to our international buyers and make import of craft products a much more easy and transparent online experience while the benefits of exports are shared with the actual weaver and artisans. GoCoop is privileged to partner with EXIM Bank and will work closely in capacity building and global market development initiatives for weaver and artisan co-operatives and other grass root enterprises.” He pointed out that the synergy between the two institutions would improve the quality of business of social enterprises and make them more sustainable in the long run.

EXIM Bank extends a Line of Credit of USD 87 million to the Government of The Republic of Zimbabawe
Press Conference

Mr. Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank (right) concluding Line of Credit Agreement for USD 87 million with H.E. Mr. Patrick Anthony Chinamasa [M.P.], Minister of Finance and Economic Development, Government of Republic of Zimbabwe in the presence of Mr. Piyush Goyal, Hon’ble Minister for Power, Coal, New & Renewable Energy, Government of India on Tuesday, October 27, 2015.

Export-Import Bank of India (EXIM Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 87 million to the Government of the Republic of Zimbabwe, for renovation/up-gradation of Bulawayo Thermal Power Plant. The LOC Agreement to this effect was signed in New Delhi on Tuesday, October 27, 2015, by H.E. Mr. Patrick Anthony Chinamasa [M.P.], Minister of Finance and Economic Development, on behalf of the Government of Republic of Zimbabwe and Mr. Yaduvendra Mathur, IAS, Chairman & Managing Director, on behalf of Export-Import Bank of India. 

With the signing of the above LOC Agreement for USD 87 million, EXIM Bank, till date, has extended two LOCs to the Republic of Zimbabwe, at the behest of the Government of India, taking the total value of LOCs to USD 115.60 million. The first LOC of USD 28.60 million was extended in June 2013 for up-gradation of Deka Pumping Station and River Water Intake System in Zimbabwe.

With the signing of this LOC Agreement, EXIM Bank has now in place 201 Lines of Credit, covering 63 countries in Africa, Asia, Latin America, Oceania and the CIS, with credit commitments of over USD 12.28 billion, available for financing exports from India. Under the LOCs, EXIM Bank will reimburse 100% of contract value to the Indian exporters, upfront upon the shipment of equipment and goods/ provision of services. EXIM Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India's exports, EXIM Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. 

Focus Africa: Enhancing India's Trade and Investment Relations with Africa
Press Conference

Export-Import Bank of India (EXIM Bank) organised a seminar titled “Focus Africa” on October 27, 2015, on the sidelines of the third edition of the India-Africa Forum Summit (IAFS) being held during October 26-29, 2015, in New Delhi. The Valedictory Session of the Seminar was addressed by Mr. Anil Swarup, Secretary, Ministry of Coal, Government of India; Mr. Upendra Tripathy, Secretary, Ministry of New & Renewable Energy, Government of India; Mr. P. A. Chinamasa, Hon’ble Minister of Finance and Economic Development, Government of Zimbabwe; and Mr. Piyush Goyal, Hon’ble Minister for Power, Coal, New & Renewable Energy, Government of India and moderated by Mr. Yaduvendra Mathur, Chairman Managing Director, EXIM Bank of India. The Seminar saw the participation of senior level delegates from institutions and the Governments of around 54 African countries, including the ECOWAS Bank for Investment and Development, PTA Bank, BOAD, DBSA and Afrexim Bank, and senior representatives from the African and Indian business community.

Mr. Anil Swarup, Secretary, Ministry of Coal, Government of India highlighted that India has made rapid strides in the coal sector over the years with India recording the highest coal production growth of 8.3% in 23 years, which has led to over ` 3.35 Lakh Crore (approximately USD 51.5 billion) of potential revenues to the coal bearing states through transparent coal e-auctions & allotments. He highlighted that backed by its achievements, India has set for itself a target of doubling coal production to 1 billion tonnes per year by 2020 and thereby increasing power generation by 50% by 2020. Towards this end, besides focusing on developing non-conventional sources of energy, the Government also envisages trebling exploration activities for enhancing coal production. He also noted that the Government also lays emphasis on minimising the adverse impact of coal mining on the environment through concerted efforts. He opined that India would be keen to partner with Africa to explore business opportunities in the coal sector by way of exploration, mining, development of coal sector projects and mines in African countries by Indian companies.

Mr. Upendra Tripathy, Secretary, Ministry of New & Renewable Energy, Government of India stressed upon the importance that renewable sources of energy such as solar, hydro and wind are gaining as a medium of power generation in order to address the burgeoning demand for power in India. He also highlighted recent initiatives of the Government of India such as the 25 years purchase power agreement and the “Re-invest 2015 and 2016”, which attracts global investment in the renewable energy sector in India. He emphasized the need for innovative financing mechanisms to reduce cost of renewable energy and possible closer collaboration among countries bestowed with abundance solar energy resources.

Mr. P A Chinamasa, Hon’ble Minister of Finance and Economic Development, Government of Zimbabwe in his address highlighted that while the country is endowed with abundant natural and mineral resources, the potential needs to be fully realized yet. He noted that infrastructure development, value addition in mining and beneficiation, education and healthcare are priority sectors for economic development and invited Indian entrepreneurs to invest in areas of its strength- viz. healthcare, pharmaceuticals, SMEs, IT, power, renewable energy, coal, agricultural equipment, irrigation etc. While acknowledging the immense contribution that LOCs from India have had on the countries in Africa, he stressed the need for continued support to productive sectors such as manufacture, tourism, agriculture, and mining in Africa.

Mr. Piyush Goyal, Hon’ble Minister for Power, Coal, New & Renewable Energy, Government of India remarked that India values its partnership with countries in Africa and that India would continue to collaborate with countries in Africa in achieving their developmental endeavours, through sharing of technology, expertise, skill sets and capacity building endeavours. He also touched upon the Government’s recent endeavours to ensure access to affordable energy to all and its initiative of seamless connectivity through the Digital India Initiative.

Speaking on the occasion, Mr. Yaduvendra Mathur, CMD, EXIM Bank, stated that the role of Government of India has been pivotal in creating an enabling environment for Indian entrepreneurs and investors in Africa. He also mentioned that there is a growing interest among Indian entrepreneurs to invest in African countries in diverse sectors including mining, driven by the opportunities and potential for high growth in these markets. He highlighted that there is substantial scope for further cooperation in various sectors.

African nations should leverage Duty Free Tariff Preferences Offered by India – Commerce and Industry Minister
Press Conference

Business and Financial Institutions deliberated on the potential for business cooperation between India and Africa at a Seminar on ‘Focus Africa’ organised by the Export-Import Bank of India. Delivering the special address, Mrs. Nirmala Sitharaman, Hon’ble Minister for Commerce and Industry, Government of India highlighted that India has offered the Duty Free Tariff Preference (DFTP) scheme for LDCs which provides duty free market access on over 95% of tariff lines. Not many countries have offered such overarching reduction in tariffs for LDCs, including those in Africa, the Minister said. Hon’ble Minister advised the financial institutions and think-tanks in Africa and India to popularise the advantages of DFTP, among Indian and African business. Indian business could look at Africa for their investments and in-turn look at the India for their market using the DFTP.

The Minister added that the Government of India has been encouraging services cooperation with the African nations. Africa has potential for development of tourism, healthcare, hospitality and ICT sectors. The Government of India supported Pan-Africa e-Network has contributed significantly to the Africa’s skill development and healthcare deliver, Mrs. Sitharaman said. The Government is looking at the feasibility of providing cost-effective credit facilities to build capacities in other developing nations, particularly in Africa, the Minister said.

Earlier speaking on the occasion, Mr. Anil Jain, Managing Director, Jain Irrigations stated that the opportunities are significant in developing agri-value chain in Africa linking up with India. Mr. Jain also highlighted that institutions like EXIM Bank should enhance its support to African nations in agriculture development of African nations. Mr. Tulsi Tanti, Chairman, Suzlon Group stated that Africa is not only rich in mineral and oil resources, but also a continent with high renewable energy sources. India is willing share its technologies and skills with African nations in solar, wind and biomass development, Mr. Tanti said.

Dr. Bassary Toure, Vice Presidet, West African Development Bank (BOAD) delineated on how the Indian tractors imported under the lines of credit extended by the EXIM Bank increase agriculture acerage, productivity as also employment. Dr. Philip Kamau, Senior Director, Finance, Afreximbank stated that India should do investments in Africa, so that the African nations join the global value chain. Dr. Philip highlighted that India’s developmental model is most appropriate for Africa, and India should help transfer skill-sets in implementing developmental objectives.

Focus Africa: Enhancing India's Trade and Investment Relations with Africa
Press Conference

Export-Import Bank of India's Recent Publication titled “Enhancing India’s Trade Relations with Africa: A Brief Analysis” being released at the hands of Mr. Arun Jaitley, Hon’ble Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Government of India, during EXIM Bank’s Seminar on “Focus Africa” in New Delhi, on October 27, 2015, on the sidelines of the third edition of the India-Africa Forum Summit (October 26-29, 2015). Also seen in the picture are Mr. Yaduvendra Mathur, IAS, Chairman and Managing Director, Export-Import Bank of India (Extreme Left); Mr. Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India (Second from Left); and Mr. Bashir M. IFO, President, ECOWAS Bank for Investment and Development (Extreme Right).

 

Export-Import Bank of India (EXIM Bank) organised a seminar titled “Focus Africa” on October 27, 2015, on the sidelines of the third edition of the India-Africa Forum Summit (IAFS) being held during October 26-29, 2015, in New Delhi. The Seminar which was inaugurated by Mr. Arun Jaitley, Hon’ble Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Government of India saw the participation of senior level delegates from institutions and the Governments of around 54 African countries, including the ECOWAS Bank for Investment and Development, PTA Bank, BOAD, DBSA and Afrexim Bank, and senior representatives from the African and Indian business community.

Emphasising on the strong Indian commitment on strengthening India-Africa relations, Mr. Arun Jaitley, Hon’ble Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Government of India, stated that this was the first time the IAFS has invited and involved 54 countries of Africa, and commended EXIM Bank for taking the initiative of organising the Seminar on Focus Africa. He further added that India, which has undertaken several measures to overcome the developmental challenges it faced over the years, is keen to share its developmental experiences and capabilities with partners in Africa. The Hon’ble Minister noted that while Indian investments were primarily in the infrastructure sector, construction, telecommunications and power, opportunities also existed in capacity building, agriculture and farming, and services sectors. He also highlighted the initiatives of the Government of India in promoting closer cooperation with Africa and the recent initiative of setting up a Project Development Company in Africa by EXIM Bank of India in association with ILFS, and State Bank of India together with the African Development Bank.

Mr. Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, in his opening remarks stated that India with Credit Lines of more than US$ 7 billion in Africa is trying to strengthen and build up economic and political relationships between India and African countries. Mr. Bashir M. IFO, President, ECOWAS Bank for Investment and Development, highlighted the huge infrastructure deficit faced by Africa. He opined that innovative ways of financing were needed for financing this gap in infrastructure investment.
Speaking on the occasion, Mr. Yaduvendra Mathur, CMD, EXIM Bank, stated that the role of Government of India has been pivotal in creating an enabling environment for Indian entrepreneurs and investors in Africa. He also mentioned that there is a growing interest among Indian entrepreneurs to invest in African countries driven by the opportunities and potential for high growth in these markets. He highlighted that there is substantial scope for further cooperation in various sectors.

During the Seminar, EXIM Bank's recent publication titled "Enhancing India's Trade Relations with Africa: A Brief Analysis" was released at the hands of Mr. Arun Jaitley, Hon’ble Union Minister for Finance, Corporate Affairs and Information & Broadcasting, GOI. The study highlights that the recent years have witnessed tremendous increase and deepening of economic and cultural exchanges and cooperation between India and Africa. This can be gauged from the robust trends in India-Africa trade that witnessed a nine-fold rise to reach a new height, from US$ 8.2 billion in 2004 to US$ 75 billion in 2014.

The study while analysing the robust trend in bilateral trade between India and Africa has also highlighted the rising trend in India’s trade deficit with Africa. EXIM Bank’s Study delineates strategies to further enhance India's trade with the African region, while addressing the rising trade deficit with Africa.

A strategy to address the rising trade deficit would by focussing on India's export potential to major countries in Africa with which India maintains the largest trade deficit, viz. Nigeria, Angola, Botswana, Gabon, Equatorial Guinea, Morocco, Cameroon, Guinea, South Africa and Côte d'Ivoire. The study has identified select commodities at the 6-digit level and 2-digit level in which India has potential for exports to 54 countries in Africa. Major commodities which have been identified, in which India could focus to enhance its trade with Africa, among others, include machinery and equipments, electronic equipments, transport vehicles, petroleum oils, and articles of iron or steel.

Given India’s expertise in several manufactured products, and technology which is affordable and adaptable, African countries would also stand to gain with increased imports of such items from India. Moreover, matching India’s capability in high value-added production and manufacturing with an increasing import demand in Africa for such products and technology, could prove to be a win-win situation for both India and Africa. This would also help in further strengthening bilateral ties, and resulting in a mutually rewarding long-term partnership.

EXIM Bank co-promotes a Project Development Company in Africa
Press Conference

On the occasion of 3rd India-Africa Summit in New Delhi, Deputy Managing Director of EXIM Bank of India, Mr. David Rasquinha, announced setting up the Kukuza Project Development Company (KPDC) in Africa to facilitate Indian participation in infrastructure projects in Africa, on Monday, October 26, 2015 at New Delhi. The other shareholders in the company are the IL&FS (Infrastructure Leasing & Financial Services Ltd) Group, African Development Bank and the State Bank of India (SBI).

Speaking on this occasion, Mr. David Rasquinha said that the investment in the Kukuza Project Development Company, in association with IL&FS, AfDB and SBI will synergise the strengths of every partner, who will complement each other in building Indian project exports while simultaneously aiding the furtherance of economic and political ties between India and Africa. The investment is in keeping with the developmental role envisaged to be played by the Bank and will be an innovative contribution to economic development of a strategically important region, while simultaneously building up Indian project export capabilities.

The KPDC is expected to provide specialist project development expertise to take the infrastructure project from the concept stage to the commissioning stage in the African Continent. It will provide the entire gamut of project development expertise to such projects such as project identification, pre-feasibility / feasibility studies, preparation of detailed project reports, environmental and social impact assessment, etc. It shall utilise the domain expertise of each partner during the project development process to establish a bankable and sustainable implementation format based on an in-depth understanding of the concerns of all the stake holders - public authority, users community, developers/investors and lenders. 

EXIM Bank, as a stakeholder in the KPDC and having Board-level representation, would address the interests of Indian project exporters and focus on the KPDC’s endeavours in a manner consistent with the interests of the Government of India. The company will be operational from first quarter of the next calendar year.

EXIM Bank’s Study Highlights India’s Trade Relations with Select countries in Latin America and the Caribbean Region
Press Conference

Export-Import Bank of India (EXIM Bank)'s publication on "Enhancing India’s Trade Relations with LAC: Focus on Select Countries" was released at the hands of Dr. Ignacio Bartesaghi, Director, Latin America-Asia Pacific Observatory; H.E. Mr. Rodrigo Vielmann, Vice - Minister of Foreign Relations, Government of Guatemala;  Mr. Dammu Ravi, Joint Secretary, Department of Commerce, MOCI, Government. Of India; H.E. Mr. Francisco de Rosenzweig Mendialdua, Vice-Minister of External Trade, Ministry of Economy, Government. of Mexico;  Mr. Luis Bianchi, Director, Foreign Trade, Govt. of Paraguay; and Mr. Henk Naarendorp, President, Surinamese Chamber of Commerce & Industry, on October 8, 2015 during the India- Latin America and Caribbean Conclave organised by CII in New Delhi.

The study draws attention to the fact that India's trade relations with the LAC region has strengthened in recent years, and presents opportunities to further enhance bilateral commercial relations. The study highlights that India's total trade with the LAC countries has risen more than nine-fold in the last ten years, from US$ 5.2 billion in 2005 to US$ 49.1 billion in 2014. While India’s total exports to LAC have risen from US$ 2.8 billion in 2005 to US$ 15.5 billion in 2014, depicting more than a five-fold rise during the period, India’s total imports from LAC have also risen significantly from US$ 2.4 billion to US$ 33.6 billion during the same period. As a result, India’s trade balance with LAC, which stood at a surplus of US$ 0.5 billion in 2005, has turned into a deficit in recent years, amounting to a trade deficit of US$ 18.1 billion in 2014.

To enhance exports, strategy would entail identification of major potential imports of select focus LAC markets up to 6-digit HS commodity code, keeping in view India’s global export capability. EXIM Bank's study identifies the potential items for India's exports to select countries in the  LAC region, which broadly include, inter alia, machinery; electrical and electronic equipment; transport vehicles; optical, photographic and medical apparatus; plastics and articles; iron and steel and its articles; rubber and articles; petroleum products; organic chemicals; meat and edible meat offal.

For further information, please contact

Mr. David Sinate
Chief General Manager
Export-Import Bank of India
Centre One Building, Floor 21
World Trade Centre Complex
Cuffe Parade, Mumbai - 400005
Telephone: 91-22-2218 2511

Fax: 91-22-22180743
E-mail: dsinate@eximbankindia.in

EXIM Bank’s push for a quantum jump in India’s Project Exports

Export-Import Bank of India (EXIM Bank) organized a “Stakeholders Seminar on Project Exports” on October 1, 2015 in New Delhi, with the objective to develop a concrete road-map to give a quantum boost to India’s Project Exports in order to give a major fillip to manufactured exports and employment generation in India.

The keynote address was delivered by Shri Yaduvendra Mathur, Chairman and Managing Director, EXIM Bank, who highlighted the Bank’s endeavours to provide further impetus to Indian Project Exports by constantly devising innovative financing programmes and products, while tapping the increasing opportunities emerging inAsia, and Africa. He noted that GOI support would be critical in boosting project exports from India.

The Seminar also included an expert panel discussion which was moderated by Shri Debashish Mallick, Deputy Managing Director, EXIM Bank. The panel discussants comprised key industry leaders such as Shri. Vijay Kumar Chohan, Executive Director-International Operations, Bharat Heavy Electricals Ltd (BHEL),Shri Ajay Mathur, Chief Executive Officer, International Coal Ventures Limited (ICVL), Shri. Atul Kumar Rastogi, Executive Director, Telecommunications Consultants India Ltd (TCIL), Shri. T.K. Sahu, Executive Director-International Trade Division, Steel Authority of India (SAIL) and Shri.S. K. Khorana, Executive Director, ISGEC Heavy Engineering Ltd, whoshared their views on the challenges and the way forward, in particular, on how to ensure a level playing field for Indian project exporters.

Speaking on the occasion, Shri Mallick highlighted EXIM Bank’s strong belief in the capabilities of the Indian Project Exporters’ who have technical competence and capability to execute large scale complex projects overseas.

Mr. Chohan, ED, BHEL highlighted the immense opportunities in the overseas power sector to the tune of 2600 GW over the next ten years which would result in a number of transmission line projects.

Mr. Sahu, ED SAIL, while talking about various projects undertaken by them, also touched upon the emerging opportunities in Iran with likely relaxation of global sanctions, especially in various railway line projects and development of Chabbar port Project. He also reflected upon the large scale project export opportunities in the African and GCC countries especially in the infrastructure sector.

Mr. Ajay Mathur, CEO ICVL, in his presentation, while highlighting the key challenges faced by Indian Project Exports in overseas acquisitions, also emphasised the opportunities emerging in the coal sector with India featuring in the top five of the world leading coal producers.

Mr. Khorana, ED ISGEC, emphasised the need for availability of competitive structured finance by way of Buyers’ Credit to compete globally.

EXIM Bank is organising a series of such Stakeholders’ Seminars to seek industry feedback for creating a level playing field for Indian project exporters.

EXIM Bank’s Catalytic Role in Promoting Project Exports
Project exports are a measure of a nation’s economic development and EXIM Bank has been playing the crucial role of a coordinator and facilitator for the promotion of Project Exports covering overseas industrial turnkey projects, civil construction contracts, supplies as well as technical and consultancy service contracts out of India. EXIM Bank has been constantly endeavouring to provide further impetus to Indian Project Exports by constantly devising innovative financing programmes and products. 

EXIM Bank’s flagship programmes such as Lines of Credit and Buyers’ Credit are designed to offer funding options to the overseas buyers in order to enable Indian project exporters to access new markets in developing countries and increase exports of goods and services from India, and create jobs.

EXIM Bank is supporting 453 project export contracts valued ` 198,941 crore (approx. USD 31.93 billion) that were under execution, in 84 countries across Asia, Africa and CIS by 133 Indian companies, as on August 31, 2015.These projects are being supported by EXIM Bank through a mix of funded and non-funded facilities.

EXIM Bank, in collaboration with the African Development Bank, has also set up a Project Development Company (PDC) in Africa to identify and develop infrastructure projects with the objective of providing the Indian private sector an opportunity to invest in and implement such projects in Africa. The PDC is expected to provide specialist project development expertise to take the infrastructure project from concept to commissioning. The PDC shall focus on infrastructure projects that have specific strategic interest to India. The PDC is expected to provide an entire gamut of project development expertise to identified projects. EXIM Bank is also engaged in managing the Government of India’s Project Development Fund for facilitating India’s trade and investment in the CLMV (Cambodia, Laos, Myanmar and Vietnam) region.

EXIM Bank celebrated Hindi fortnight
Press Conference

Noted ad Guru Shri Piyush Pandey, at the  Hindi Fortnight culmination function of EXIM Bank along with Chairman and Managing Director Shri Yaduvendra Mathur (extreme right); Shri Debasish Mallick, Dy. Managing Director (second from right); Shri David Rasquinha, Deputy Managing Director (extreme left) and Ms. Daya Chandrahas, General Manager -OL (Centre)

Hindi Fortnight was celebrated in Export–Import Bank of India (EXIM Bank) from September 01, 2015 to September 15, 2015. During this period various programmes including Hindi competitions for staff members, Hindi workshops, Sangeet Sandhya were organized which were aimed at motivating and encouraging staff members for increasing use of Hindi in their day- to- day work. 
Hindi Fortnight started with the release of message by Chairman and Managing Director. A function to give away prizes to the winners of Hindi competitions was organised on September 16, 2015. Messages of Hon'ble Finance Minister, Shri Arun Jaitley and Hon'ble Home Minister, Shri Rajnath Singh were circulated to the staff members. Shri Piyush Pandey, noted Ad Guru, graced the occasion as Chief Guest. The function was presided over by Shri Yaduvendra Mathur, Chairman and Managing Director of EXIM Bank. Prizes were distributed to winners of Hindi competitions organized by the Bank.

Speaking on the occasion, Shri Mathur, Chairman & Managing Director of the Bank encouraged staff members for using Hindi increasingly in their day to day work. He opined that Hindi has been adopted as the language of our common expression by our constitution, for reaching out to the masses. He also encouraged staff members to learn as many languages as possible as Languages open windows to know about the various cultures of the world.

Chief Guest Shri Piyush Pandey emphasized that Hindi and Indian Languages are the only medium to reach the masses. He narrated the story of making advertisement for Cadbury chocolate in Hindi which made it a hit. He opined that Hindi is evolving very rapidly and accepting words from various languages with open heart which can be seen from the language used in Cinema and advertising media. He dwelled upon the need to bring other Indian languages closer to Hindi for evolving it as a more acceptable and powerful language for common expression in the country. Elaborating his real life experiences, he urged staff members to use day- to- day Hindi and avoid using difficult words especially in the communications meant for public, as such words stop its acceptability. He impressed upon the need of using Hindi and other Indian languages for spreading awareness on various social issues. Mr. Pandey also showed his popular advertisements and elaborated the process of making these advertisements. All the advertisements  shown used Hindi as the medium of communication. He shared that all his advertisements are influenced by real life experiences and cover all type of 'Rasas' categorized in Indian literature. 

EXIM Bank is an apex financial Institution engaged in financing, promoting and facilitating, India's international trade and investment. Bank brings out various research studies and news bulletins on export opportunities. These studies and news bulletins are also made available in Hindi and other Indian Languages. Banks' efforts for promoting Hindi and implementing Official Language policy have been recognized by various authorities and Bank has received many awards from Government of India including RBI and other Agencies. 

EXIM Bank extends a Line of Credit of USD24 million to the government of The Republic of Cote d'Ivore
Press Conference

Mr. Nadeem Panjetan, Chief General Manager, Export-Import Bank of India (left) concluding Line of Credit Agreement for USD 24 million with H.E. Mr. Sainy Temele, Ambassador of the Republic of Côte d’Ivoire in India, on Tuesday, September 22, 2015.

Export-Import Bank of India (EXIM Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 24 million to the Government of the Republic of Côte d’Ivoire, for financing Electricity Interconnection Project between Côte d’Ivoire and Mali. The LOC Agreement to this effect was signed in New Delhi on Tuesday, September 22, 2015, by H.E. Mr. Sainy Temele, Ambassador of the Republic of Côte d’Ivoire and Mr. Nadeem Panjetan, Chief General Manager, Exim Bank on behalf of Export-Import Bank of India. 

With the signing of the above LOC Agreement for USD 24 million, EXIM Bank, till date, has extended five LOCs to the Republic of Côte d’Ivoire, at the behest of the Government of India, taking the total value of LOCs to USD 136.30 million. The first LOC of USD 26.80 million was extended in August 2005 for financing renewal of urban transport system in Abidjan and for agricultural projects. The second LOC of USD 25.50 million was extended in June 2008 for financing (i) Mahatma Gandhi IT and Biotechnology Park, (ii) Fisheries Processing Plant and (iii) Coconut fibre processing plant. The third LOC of USD 30 million was extended in December 2009 for financing transmission line project between Cote d'Ivoire and Mali. The fourth LOC of USD 30 million was extended in March 2010 for financing rice production programme. Republic of Côte d’Ivoire is a West African country bordered by Liberia and Guinea in the west, Mali and Burkina Faso in the north, Ghana in the east, and the Gulf of Guinea (Atlantic Ocean) in the south.

With the signing of this LOC Agreement, EXIM Bank has now in place 200 Lines of Credit, covering 63 countries in Africa, Asia, Latin America, Oceania and the CIS, with credit commitments of over USD 12.22 billion, available for financing exports from India. Under the LOCs, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon the shipment of goods/ provision of services. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India's exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. 

EXIM Bank organises Design intervention workshop on block printing
Press Conference

EXIM Bank organizes a design intervention workshop in block printing & dyeing at Jaipur. The workshop is organized for training over 20 rural women in and around Achrol village, in association with NID.

ACHROL, JAIPUR: Export-Import Bank of India (EXIM Bank) in association with National Institute of Design (NID) recently inaugurated a Design Intervention workshop in block printing & dyeing for the rural women of Achrol village, near Jaipur, Rajasthan. 

Over 20 women participants having basic skill sets will be trained by young and enterprising designers from NID at the 15-day workshop. The objective of the workshop is to provide advance training on design intervention which will broaden participant’s perspective and improve skills in block printing & dyeing. It is envisaged that these participants will be equipped to train fellow craftsperson in their community. This activity will also set in motion the process of spreading skills and knowledge having multiplier impact over a period of time. The undergoing workshop will also improve the livelihood and economic status of participating rural women from the villages surrounding Jaipur.

The products with block printing designs are expected to get a modern touch during the training programme. The women participants having combined skills in dyeing, block printing, kantha embroidery and tailoring, are estimated to produce approx 20-25 products prototypes ranging from readymade garments & textiles and home, kitchen & bed furnishing items. 
EXIM Bank of India through its Marketing Advisory Services plays a promotional role to create and enhance export capabilities and international competitiveness of Indian companies. EXIM Bank assists in identification of opportunities overseas and seeks to help Indian exporting forms in their globalization efforts by proactively assisting in locating overseas distributors / buyers / partners for their products and services.

EXIM Bank extends a Line of Credit of USD35 million to the government of The Republic of Guinea
Press Conference

Mr. Tarun Sharma, Regional Head of EXIM Bank’s New Delhi office (left) concluding Line of Credit Agreement for USD 35 million with H.E. Mr. Alexandre Cece Loua, Ambassador of The Republic of Guinea in India, on Wednesday, September 9, 2015.

Export-Import Bank of India (EXIM Bank) has, at the behest of the Government of India, extended a Line of Credit (LOC) of USD 35 million to the Government of the Republic of Guinea, for Construction and Upgradation of Regional Hospitals at Kankan and Nzerekore in Guinea. The LOC Agreement to this effect was signed in New Delhi on Wednesday, September 9, 2015, by H.E. Mr. Alexandre Cece Loua, Ambassador of the Republic of Guinea in India, on behalf of the Government of Republic of Guinea and Mr. Tarun Sharma, Regional Head of EXIM Bank’s New Delhi Office on behalf of Export-Import Bank of India. 

This is the first LOC extended by EXIM Bank to the Government of the Republic of Guinea. Republic of Guinea is located in West Africa bordering the North Atlantic Ocean to its west and shares its northern border with Guinea-Bissau, Senegal and Mali and its southern border with Sierra Leone, Liberia and Côte d’Ivoire.

With the signing of this LOC Agreement, EXIM Bank has now in place 199 Lines of Credit, covering 63 countries in Africa, Asia, Latin America, Oceania and the CIS, with credit commitments of over USD 12.19 billion, available for financing exports from India. Under the LOCs, EXIM Bank will reimburse 100% of contract value to the Indian exporters, upfront upon the shipment of equipment and goods/ provision of services. EXIM Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India's exports, EXIM Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

EXIM Bank Announces the Winner of IERA 2014
Press Conference

Presentation of EXIM Bank IERA 2014 by Dr. Arvind Subramanian, Chief Economic Adviser to the Government of India, to the Award winner, Dr. V. Kalyan Shankar in the presence of Mr. Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank of India at the Award Function held in New Delhi on July 27, 2015.  EXIM Bank's Occasional Paper titled "Value Addition Chains and Trade in Manufactured Commodities in Southeast Asia" was also released by Dr. Arvind Subramanian at the function. 

 

Dr. V. Kalyan Shankar was declared the winner of Export-Import Bank of India’s (EXIM Bank) International Economic Research Award (IERA) 2014 for his doctoral thesis titled “Analysis of Inter-Country Value Addition Chains in the Trade of Select Manufacture Commodities among Select South East Asian Economies”. EXIM Bank’s IERA 2014 was announced by Mr. Yaduvendra Mathur, Chairman and Managing Director, EXIM Bank, at an award function held on July 27, 2015, in New Delhi. The Award consisting of ` 3.5 lakhs and a citation were handed over by the Chief Guest, Dr. Arvind Subramanian, Chief Economic Adviser to the Government of India, who also released EXIM Bank’s Occasional Paper based on Dr. Kalyan Shankar's Award winning thesis.
  
Mr. Mathur, highlighted that IERA, instituted in 1989, currently in its 27th year, is given to Indian nationals for their outstanding Doctoral dissertations in the area of international economics, trade, development and related financing from Indian or foreign universities. Commenting on the Award winning thesis, Mr. Mathur noted that the research study addresses the interesting dynamics of value addition chains in trade of manufactured products in South East Asian region.  

Winning Thesis
Dr. Kalyan Shankar received his Doctoral degree in 2011 from the University of Pune. The thesis was written under the supervision of Dr. Rohini Sahni. He is currently working as an ICSSR Postdoctoral Fellow, in the Department of Economics, University of Pune.

EXIM Bank’s IERA 
EXIM Bank IERA represents the Bank’s ongoing efforts at promoting research and analysis in the area of international economics, trade & development and related financing. The Bank has opened entries for the 2015 edition of the Award. The last date for submission of applications is September 30, 2015. 

To know more about the past winners and to apply for the IERA 2015, please visit: http://www.eximbankindia.in/iera-award

EXIM Bank co-promotes a Project Development Company in Africa
Press Conference

(Seated Left to Right, Mr. Sanjay Ghag, Senior Vice President, IL&FS Ltd., Dr. Joseph Ribeiro, Resident Representative, AfDB, Mozambique, Ms. Vidisha Maitra, High Commission of India, Mauritius, Mr. David Rasquinha, Deputy Managing Director, EXIM Bank of India and Dr. P. K. Agrawal, General Manager, State Bank of India)  

 

Deputy Managing Director of EXIM Bank of India, Mr. David Rasquinha, signed the constitutive documents on behalf of EXIM Bank, for setting up the Kukuza Project Development Company (PDC) in Africa to facilitate Indian participation in infrastructure projects in Africa, on Friday, July 24, 2015 at Mauritius. The other shareholders in the company are the IL&FS (Infrastructure Leasing & Financial Services Ltd) Group, African Development Bank and the State Bank of India (SBI).
Speaking on this occasion, Mr. David Rasquinha said that the investment in the Project Development Company, in association with IL&FS, AfDB and SBI will synergise the strengths of every partner, who will complement each other in building Indian project exports while simultaneously aiding the furtherance of economic and political ties between India and Africa. The investment is in keeping with the developmental role envisaged to be played by the Bank and will be an innovative contribution to economic development of a strategically important region, while simultaneously building up Indian project export capabilities. 

The PDC is expected to provide specialist project development expertise to take the infrastructure project from the concept stage to the commissioning stage in the African Continent. It will provide the entire gamut of project development expertise to such projects such as project identification, pre-feasibility / feasibility studies, preparation of detailed project reports, environmental and social impact assessment, etc. It shall utilise the domain expertise of each partner during the project development process to establish a bankable and sustainable implementation format based on an in-depth understanding of the concerns of all the stake holders - public authority, users community, developers/investors and lenders. 
EXIM Bank, as a stakeholder in the PDC and having Board-level representation, would address the interests of Indian project exporters and focus on the PDC’s endeavours in a manner consistent with the interests of the Government of India.

Exim Bank of India along with other member Development Banks of BRICS Nations signed an agreement expressing their intent to cooperate with the New Development Bank
Press Conference

Chairman and Managing Director of Exim Bank of India, Mr. Yaduvendra Mathur, signed a multilateral cooperation agreement, along with Chairmen/Presidents of other member development banks of BRICS (Brazil, Russia, India, China, and South Africa) nations, expressing their intent to cooperate with the New Development Bank (NDB) promoted by the BRICS nations. The Agreement was signed in the presence of Heads of States/Governments of the BRICS countries on Thursday, July 09, 2015, in Ufa, Russia during the BRICS Summit 2015.

This Agreement is aimed at setting broader agenda for cooperation with the NDB guided by the existing international banking practices; the principles of equality, mutual benefit and responsible financing; and the existing partnership among the BRICS national development banks. The Agreement is expected to enhance cooperation between BRICS development banks and the NDB, individually or collectively, on sharing of information, knowledge and experiences; extending guarantees and counter guarantees; cofinancing; and issuance of bonds, among others.

Mr. K V Kamat, the newly elected First President of the NDB, in his address during the Annual Meeting of BRICS Interbank Cooperation Mechanism, stated that the NDB intends to act in speed, leveraging the strengths of the existing institutional infrastructure in BRICS nations. Cooperating with the national and regional development banks, the NDB intends to speed up the process of project identification, appraisal, and finance delivery, Mr. Kamat, added. Mr. Kamat also stated that the NDB intends to innovate and design new approaches, not only in lending, but also in resource raising.

Mr. Mathur, Chairman, Exim Bank of India, also addressed the Annual Meeting of the BRICS Interbank Cooperation Mechanism, and the Joint Financial Forum of BRICS and SCO organisations, organised by the Vnesheconombank (VEB) as part of the official agenda of the BRICS Summit.  In his address, Mr. Mathur stated that the development financial institutions of BRICS nations could play a significant role in regional development in the continents they represent. Further, Mr. Mathur added that BRICS nations are innovative economies, and through cooperation in the sphere of R&D, BRICS as a bloc could become a strong innovation centre for the world.

Exim Bank of India is the nominated member development bank under the BRICS Interbank Cooperation Mechanism. Other nominated member development banks from BRICS nations are: Banco Nacional de Desenvolvimento Economico e Social – BNDES, Brazil; State Corporation Bank for Development and Foreign Economic Affairs – Vnesheconombank, Russia; China Development Bank Corporation, and Development Bank of Southern Africa.

Exim Bank of India has signed an MOU with the Brazilian Development Bank
Press Conference

Chairman and Managing Director of Exim Bank of India, Mr. Yaduvendra Mathur, and the President, Brazilian Development Bank (BNDES), Mr. Luciano Coutinho, signed a cooperation agreement at Ufa, Russia on the sidelines of the activities associated with the Annual Meetings of the BRICS Interbank Cooperation Mechanism, on Thursday, July 09, 2015. 

This MOU is aimed at sharing of knowledge, information and best practices; capacity building of personnel, including project development skills; promotion of joint events,  research and programmes; development of effective and sustainable financing solutions for projects of mutual interest, including projects in third countries, such as PPP projects; and cofinancing. 

Exim Bank of India and BNDES are nominated member development banks under the BRICS Interbank Cooperation Mechanism. Other nominated member development banks from BRICS nations are: State Corporation Bank for Development and Foreign Economic Affairs – Vnesheconombank, Russia; China Development Bank Corporation, and Development Bank of Southern Africa. Both BNDES and Exim Bank of India are parties to several multilateral cooperation agreements under the BRICS Interbank Cooperation Mechanism. As per these multilateral umbrella agreements, any interested Parties could enter into bilateral agreements to take forward the directions set under these multilateral agreements. 

Speaking on this occasion, Mr. Mathur, Chairman and Managing Director, Exim Bank of India, said that projects between the two institutions would be referred under this arrangement for joint financing. Further, the bilateral agreement is expected to strengthen the institutional capacities, besides augmenting the trade and investment relations between the two nations, Mr. Mathur added.