Funding made easier
“The trade facility, shared equally by BTMU and IFC, will improve India Exim Bank’s ability to provide access to short-term trade funding for smaller businesses, enabling them to carry out export orders,” a joint statement said. World Bank Group member IFC and Bank of Tokyo-Mitsubishi will provide the money to the EXIM to help export-focused SMEs, which have suffered reduced access to finance due to the meltdown.
The transaction follows a deal between IFC and G-NEXID to develop effective and sustainable financing solutions to assist importers and exporters in developing nations.
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