Page 20 - BANKING FINANCE APRIL 2017
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EXPORT IMPORT NEWS
EXPORT-IMPORT BANK
Exim Bank extended supported to the Republic of Exim to partners up with
Guyana
AfDB
Export-Import Bank of India on behalf of Government of India has extended a
Line of Credit [LOC] of USD 4 million to the Export-Import Bank of India is search-
Government of Cooperative Republic of Guyana ing for
for procuring high capacity fixed and mobile oppor-
drainage pumps and associated structures. tunities
to co-fi-
With the signing of the above LOC Agreement
n a n c e
for USD 4 million, Exim Bank, till date, has ex-
projects with African Development
tended seven Lines of Credit to the Govern-
ment of Guyana, on behalf of the Government Bank (AfDB) in Africa according to
of India, taking the total value of LOCs extended to USD 92.38 million. Exim Bank Managing Director David
Rasquinha. He said the co-financing of
Exim Bank eyeing Formosa bonds in Taiwan projects is likely to be in sectors such
After tapping Uridashi bonds (Japan) and Panda bonds (China), EXIM Bank is as power, agriculture and irrigation.
eyeing issuance of Formosa bonds in Taiwan. The move to tap Formosa bonds Referring to the Kukuza Project De-
comes in the backdrop of China imposing controls to stem capital outflows. China velopment Company (KPDC) in
reportedly saw outflows of about $309 billion in 2016. Nairobi (Kenya) where Exim Bank has
David Rasquinha, Managing Director (Additional Charge), Exim Bank, said, "The set up along with IL&FS Group, Afri-
Formosa bond market is something which is interesting. The Taiwanese companies can Development Bank and State
are very liquid and investors in Taiwan are looking for investment opportunities". Bank of India, for greater Indian par-
ticipation in infrastructure projects in
Exim Bank extends loan to Nepal and Tanzania Africa, Mr. Rasquinha said Exim Bank
The Export Import Bank of India (Exim Bank) has permitted USD 750 million loan is keen to work closely with AfDB to
to Nepal for the post-earthquake reconstruction projects. help KPDC take off in a big way.
A separate USD 92.18 million line of credit (LOC) has been
given to Tanzania to finance rehabilitation and water sup- He added that AfDB has evinced in-
terest in India's Public Private Part-
ply improvement in Zanzibar.
nership (PPP) financing model espe-
A line of credit is a soft loan with conditions that seller from
cially in the infrastructure sector and
India would supply at least 75 per cent of goods and services, including consultancy is looking to encourage a similar
services of the contract price. Remaining 25 per cent goods and services may be model for African nations.
procured by from outside India, RBI said in a notification.
20 | 2017 | APRIL | BANKING FINANCE
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