Exim Bank Inks Cooperation Pact With Development Banks Of BRIC Countries
Mr.T.C.A. Ranganathan, Chairman and Managing Director, Exim Bank of India (seated extreme right) with Chairmen/Presidents of development banks of other BRIC (Brazil, Russia, India, China) countries, in the presence of H.E. Dr.Manmohan Singh, Prime Minister of India, H.E. Mr. Lula da Silva, President of Brazil, H.E. Mr. Dmitry Medvedev, President of Russian Federation, and H.E. Mr.Hu Jintao, President of China, in Palacio Itamaraty in Brasilia, Brazil on April 15, 2010.
During the recently concluded BRIC (Brazil, Russia, India, China) Summit in capital city of Brasilia, Brazil, Exim Bank of India entered into a Memorandum of Cooperation with three major development banks of Brazil, Russia and China. The MOC was signed in Brasilia on Thursday, April 15, 2010, by Mr. T.C.A. Ranganathan, Chairman & Managing Director, on behalf of Exim Bank of India, Mr. Luciano Coutinho, President, on behalf of Brazilian Development Bank (BNDES), Mr. Vladimir Dmitriev, Chairman, on behalf of Bank for Development and Foreign Economic Affairs of Russia (Vnesheconombank), and Mr. Chen Yuan, Chairman, on behalf of China Development Bank. The MOC was signed in the presence of the Heads of States / Governments of the four countries, H.E. Dr. Manmohan Singh, Prime Minister of India, H.E. Mr. Lula da Silva, President of Brazil, H.E. Mr. Dmitry Medvedev, President of Russian Federation, and H.E. Mr. Hu Jintao, President of China, in Palacio Itamaraty in Brasilia. (Photo attached).
The objective of the Memorandum is (i) to develop comprehensive long-term cooperation among the four banks to facilitate and support cross-border transactions and projects of common interest; (ii) to strengthen and enhance trade and economic relations between BRIC countries and its enterprises; (iii) to finance the investment projects and to work towards economic development of BRIC countries. BRIC countries together represent 42% of world population, 23% of Global GDP at Purchasing Power Parity level, and about 50% of economic growth in the world.
For further information, please contact
Mr. David Sinate,
General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai-400005.
Telephone: (022) 22181852,
Fax: :(022) 22182572.
E-mail:
cag@eximbankindia.in
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