Page 18 - Banking Finance June 2017

EXPORT IMPORT NEWS

EXPORT-IMPORT BANK

NEWS
NEWS
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Duty Calculator tool launched Exim Bank extends
"EXIM Mitra" portal provides information on Trade Finance and Export Credit
Insurance options besides Export-import intelli- $71.40m line of credit to
gence and a helpline in the area of Trade Finance Cote d'Ivoire
and Export Credit Insurance.
The portal provides preliminary help to a large
number of exporters and importers who may not
have access to bundle of imperative trade related
information under one single platform. It acts as a
gateway to identify potential global markets and products, understand product
standards across the globe, introduce exporters and importers to the various
credit and insurance facilities available, estimate freight cost, identify agencies Export-Import Bank of India today
providing handholding and others. said it has extended an additional
line of credit (LOC) of USD 71.40
The Bank shook hands with M/s Pitney Bowes Inc. to bring to users the ease of
million to Cote d'Ivoire for
calculating duties and taxes besides Country Guides for over 140 countries. The upgradation of four military hospi-
tools facilitate product classification, import duty tax calculation, plus restric- tals in Abidjan, Korhogo, Bouake and
tions and compliance management. The objective is to benefit the SMEs in or- Daloa regions.
der to make sound business decisions during their overseas expeditions.
Two credit confirmation statements
Exim Bank to borrow over Rs 10,000 crores of USD 87.46 mn and USD 200 mn
were also exchanged under the
EXIM Bank's Deputy Managing Director Debashish Mallick mentioned that the bank's Buyers' Credit -NEIA (BC-
Bank is planning to borrow funds over Rs 10,000 NEIA) programme, Exim Bank said in
crores in the current fiscal both from domestic and a statement here.
overseas markets.
The facilities have been provided by
Exim Bank provides finances broadly in three seg- the bank for supply of vehicles to
ments - overseas investment finance scheme, project Cote d'Ivoire.
exports and lines of credit, which is government to
The LoC agreement was signed be-
government credit.
tween Exim Bank managing director
Other than supporting export oriented companies, the bank provides financial (additional charge), David Rasquinha
assistance to Indian companies going for overseas acquisition or implementing and Cote d’Ivoire minister (planning
projects outside India. It also supports airports and ports facilitating exports. & development) Niale KABA.

18 | 2017 | JUNE | BANKING FINANCE

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