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Annual Report 2011-12
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:: PRESS RELEASES |
Exim Bank Inks USD 50 Million Pact With Malawi For The Purpose Of Financing (I) Cotton Processing Facilities, (Ii) Green Belt Initiative, And (Iii) One Village One Product Project In Malawi
Export-Import Bank of India (Exim Bank) has, at the behest of Government of India, extended a Line of Credit (LOC) of USD 50 million to the Government of the Republic of Malawi, for the purpose of financing (i) Cotton Processing Facilities, (ii) Green Belt Initiative, and (iii) One Village One Product Project in Malawi. The LOC Agreement to this effect was signed in New Delhi, on Tuesday, February 1, 2011, by Mr. Sriram Subramaniam, Deputy General Manager & Regional Head, on behalf of Exim Bank and H. E. Dr. (Ms.) Chrissie Chawanje Mughogho, High Commissioner of the Republic of Malawi to India, on behalf of the Government of the Republic of Malawi.
Exim Bank will reimburse 100% of contract value to the Indian project exporter (s), upfront upon the shipment of goods and provision of services. Major export items from India to Malawi are pharmaceuticals, fine chemicals, machinery & instruments, transport equipment, plastic and linoleum products and manmade yarn fabrics.
Exim Bank has now in place 134 Lines of Credit, covering over 71 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 6.49 billion, available for financing exports from India. 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.
For further information, please contact
Mr. David Rasquinha,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: 22162073/22172310,
Fax:(022) 22182460.
E-mail:eximloc@eximbankindia.in
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