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Annual Report 2011-12
:: PRESS RELEASES
Exim Bank inks USD 48.50 million pact with Mauritius for financing an offshore patrol vessel
Mr. David Rasquinha, Chief General Manager of Export-Import Bank of India signing the Line of Credit Agreement for USD 48.50 million with Mr. Vishnu Bassant, Director, Ministry of Finance and Economic Development, on behalf of the Government of Mauritius.
Export-Import Bank of India (Exim Bank) has, at the behest of Government of India, extended a Line of Credit (LOC) of USD 48.50 million to the Government of Mauritius, for financing an Offshore Patrol Vessel to be built by Garden Reach Shipbuilders & Engineers Ltd., Kolkata. The LOC Agreement to this effect was signed in New Delhi, on Wednesday, January 27, 2011, by Mr. David Rasquinha, Chief General Manager, on behalf of Exim Bank and Mr. Vishnu Bassant, Director, Ministry of Finance and Economic Development, on behalf of the Government of Mauritius.
Exim Bank will reimburse 100% of contract value to the Indian exporter, stage-wise linked to shipbuilding. Major export items from India to Mauritius are plastic and linoleum products and cotton yarn fabrics and madeups.
Exim Bank has now in place 133 Lines of Credit, covering over 71 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD 6.44 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.