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EXPORT IMPORT NEWS
EXPORT-IMPORT BANK
NEWS
West Bengal has the Potential to Emerge as Export Exim Bank's Study high-
Hub for the Eastern India: EXIM
lights Potential for En-
Exim Bank's Research Study titled, "Ex- bank seeks to support the exporters
ports from West Bengal: Potential & having operations in West Bengal in hancement with CLMV
Strategy" was released by Ms. Mamata achieving higher exports by facilitation
Banerjee, Hon'ble Chief Minister of of market linkages through its market Exim Bank's study on "Act East: En-
West Bengal at the Bengal Global Busi- advisory services, which will assist in hancing India's Engagements with
ness Summit in January. It elucidates identifying suitable partners. Cambodia, Lao PDR, Myanmar, Viet-
and identifies industries which are tra- nam (CLMV)" was released at the
ditionally strong in the State Besides, the Bank would help develop hands of Ms Nirmala Sitharaman,
and which could be further skills through capacity build- Hon'ble Minister of State for Com-
strengthened, while address- ing workshops, help the ex- merce & Industry (Independent
ing the challenges faced by porters' participation in se- Charge), Government of India, at the
these industries. These in- lect trade fairs and exhibi- 3rd India-CLMV Business Conclave,
clude tea, leather, food pro- tions, and through research held at Mamallapuram, Tamil Nadu.
cessing, IT, hospitals, amongst others. activities. Exim Bank would
The study dwells on the strategic im-
During the Summit, Exim Bank of In- also use its strong institutional linkages portance of CLMV countries for India.
dia and the Government of West Ben- with USA, Singapore, Japan, Australia, It states that in addition to the geo-
gal also entered into a Memorandum EU, etc, and facilitate technology graphical advantage of being located
of Understanding (MoU) where Exim transfer to the technology-seeking en- near fast-growing economies, CLMV
terprises in West Bengal. countries have the advantage of hav-
ing access to wide ranges of markets
Exim Bank Extends Buyer's Credit under NEIA to Govt through economic partnership agree-
ments with various countries.
of Senegal
Exim Bank's latest study highlights
Export-Import Bank of India has extended a Buyer's Credit immense opportunities for invest-
under National Export Insurance Account (NEIA) of USD ments presented by CLMV countries,
69.75 mn to the Government of Senegal for financing ex- and noted that Indian investments in
port of vehicles from India to Senegal. the CLMV region have been rela-
tively low, as compared to invest-
BC-NEIA is a unique financing mechanism that provides a safe mode of nonre- ments from non-ASEAN partners, viz.
course financing option to Indian exporters and serves as an effective market China, Japan, South Korea and the
entry tool to traditional as well as new markets in developing countries, which United Kingdom.
need deferred credit on medium or long term basis. Exim Bank has till date
sanctioned USD 2.05 bn for 20 projects valued USD 2.25 bn.
20 | 2016 | FEBRUARY | BANKING FINANCE
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