Page 19 - Banking Finance July 2017

EXPORT IMPORT NEWS

EXPORT-IMPORT BANK

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EXIM Bank signs MoU EXIM Bank extends a Line of Credit to SriLankan Gov-

with Korea ernment
Mr. David Rasquinha, Managing Direc- Mr. David Rasquinha Managing Direc- [LOC] of USD 318 million to the Govern-
tor (Additional Charge), Export-Import tor, Export-Import Bank of India, ex- ment of the Democratic Socialist Re-
Bank of India and Mr. Jongku Choi, changing Line of public of Sri
Chairman & President, The Export-Im- Credit Agreement Lanka [Govern-
port Bank of Korea signed the MOU at of USD 318 million ment of Sri
Seoul, The Republic of Korea to utilise in Colombo, for fi- Lanka] for financ-
the Exposrt Credits of US $ 9 billion for nancing the rail- ing procurement
supporting priority secors, including way projects and of (i) Rolling
smart cities, railways, power genera- supply of rolling Stock for the Sri
tion and transmission, and other sec- stock from India Lanka Railway
tors as may be mutually agreed. The to Sri Lanka with [USD 177 mil-
ceremony took place in presence of the Dr. R.H.S. Samarathunga, Secretary, lion]; (ii) Upgrading of the railway track
Hon'ble Finance Minister of India, Mr. Ministry of Finance and Mass Media, from Maho - Anuradhapura- Omanthai
Arun Jaitley and Deputy Prime Minis- Govt. of Sri Lanka, in the presence of or any other sector [USD 136 million];
ter and Finance Minister of South Ko- Mr. Nihal Somaweera, Secretary, Min- and (iii) Utilization of the balance
rea, Mr. Kim Dong-yeon. istry of Transport and Civil Aviation, amount as may be agreed between
With the Memorandum of Under- Govt of Sri Lanka, Mr. Priyantha the Government of Sri Lanka and the
standing in place, Export-Import Rathnayake, Director General, Depart- Government of India.
Bank of India and The Export-Import ment of External Resources, Ministry of The LOC Agreement to this effect was
Bank of Korea will endeavour to pro- Policy and Economic Affairs, Govt. of Sri signed in Colombo, Sri Lanka on Tues-
mote projects in India and support Lanka, Mr.T.M.Rihan, Asst. Director, day, June 6, 2017, in the presence of
the supply of goods and services from Department of External Resources, Mr. Arindam Bagchi, Deputy High
India and Korea as part of projects in Ministry of Policy and Economic Affairs, Commissioner of India in Sri Lanka and
third countries. Govt of Sri Lanka, Mr. Arindam Bagchi, Mr. Nihal Somaweera, Secretary, Min-
Exim Bank aims to promote India's in- Deputy High Commissioner of India in istry of Transport and Civil Aviation,
ternational trade and investment. The Sri Lanka, Mrs Suja Menon, Head of Government of Sri Lanka, by Mr. David
Bank offers Indian companies a com- Economic & Commercial Wing, High Rasquinha, Managing Director, on be-
prehensive range of products and ser- Commission of India in Sri Lanka. half of Exim Bank and Dr. R. H. S.
vices, supported by analysis and re- Export-Import Bank of India [Exim Samarathunga, Secretary, Ministry of
search, with a view to enhancing their Bank] has, on behalf of the Govern- Finance and Mass Media, on behalf of
international competitiveness. ment of India, extended a Line of Credit the Government of Sri Lanka.

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