Exim Bank wins ADFIAP award for Trade Development

The Award recognises and honours ADFIAP member institutions, which have assisted projects that have created a development impact in their respective countries. Awards are given to member institutions, which have implemented or enhanced outstanding and innovative development projects during the year.

The Award is in recognition of Exim Bank's Consultancy Support Programme that proactively creates the enabling environment for India to share its experience and expertise. The programme has its genesis in the working arrangement successfully set in place with International Finance Corporation of the World Bank Group (IFC) to support entrepreneurs in Sub-Saharan Africa, through provision of a variety of technical assistance by Indian consultants. Based on the successful and positive experience, the geographical reach of the Exim Bank programme has been substantially enhanced to encompass several newer facilities of IFC worldwide. In the Asia-Pacific region, Exim Bank supports Indian consultants in rendering technical assistance to entrepreneurs in Vietnam, Laos, Cambodia, China, Commonwealth of Independent States (CIS), Bangladesh, Nepal, Bhutan and North Eastern region of India.

Exim Bank, through this innovative facility, has helped increase visibility for Indian expertise, and leveraging upon its links with multilateral agencies promoted Indian exports.

Another pro-active trade enhancing programme is the Lines of Credit (LOCs) facility extended by the Bank to developing countries to import goods and services from India. In 2003-04, the Bank extended LOCs to a number of banks and financial institutions overseas, including Africa, the Caribbean, Central Europe, Asia and CIS. These LOCs serve as effective market-entry mechanisms particularly for small and medium enterprises.