Page 18 - Banking Finance December 2016

EXPORT IMPORT NEWS

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Exim Bank lowers lend- Exim bank's extends Line of Credit support to Guyana

ing rate 0.25% to pro- On behalf of Government of India Ex- Georgetown, Guyana in the presence
port-Import Bank of India has ex- of H.E. Mr. V. Mahalingam, High Com-
mote project exports tended a Line of Credit (LOC) of USD 10 missioner of India in Guyana and H.E.
million to the Govern- Mr. David Patterson,
ment of Cooperative Hon'ble Minister of
Republic of Guyana Public Infrastructure,
(Government of Government of
Guyana, by Mr. Win-
Guyana). This credit
ston Jordan, Hon'ble
was given for financ-
Export-Import Bank of India (Exim ing the Construction Minister of Finance,
Bank) has lowered its credit cost by and Supply of Passen- on behalf of the Gov-
0.25 per cent to promote project ex- ger-Cargo Ferry Vessel and Associated ernment of Guyana
ports. Equipment. and Mr. Sailesh Prasad, Resident Rep-
resentative of Exim Bank's Washington
The interest rate structure for buyer's The LOC Agreement was signed in D.C. office, on behalf of Exim Bank.
credit under the Government of India
National Export Insurance Account Vigilance Awareness Week 2016 observed by Exim
(BC-NEIA) payable by eligible borrow- Bank
ers has also been revised down to 25
basis points across tenors. Vigilance Awareness Week 2016 observed by Export-Import Bank of India. As ad-
vised by the Central Vigilance Commission, Export-Import Bank
Further, the Exim bank will determine of India observed the Vigilance Awareness Week 2016 from
the charges and fees, including a suit- October 31, 2016 to November 05, 2016. Mr. Yaduvendra
able interest differential payable by Mathur, Chairman and Managing Director administered the
the Indian Company. Vigilance Pledge to the employees in Exim Bank.

Exim Bank has till date sanctioned Speaking on the theme for the Vigilance Week, "Public Participation in promot-
$2.84 billion for 22 projects valued at ing Integrity and Eradicating Corruption", the Chairman and Managing Director
$3.06 billion under the programme and the Chief Vigilance Officer of Exim Bank encouraged the employees of Exim
for executing projects in countries, Bank to maintain the highest level of integrity and work unstintingly for eradica-
including Cameroon, Ethiopia, tion of corruption in workplaces and every spheres of life.
Ghana, Iran, Maldives, Mozambique,
Senegal, Sri Lanka, Tanzania, Zambia As advised by the Government of India, National Unity Day was also observed in
the Bank to commemorate the birth anniversary of Sardar Vallabhbhai Patel.
and Zimbabwe.
The staff members also took national Unity Day pledge on this occasion.

18 | 2016 | DECEMBER | BANKING FINANCE

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