Exim Bank eyes spanning African footprint further

Currently, Exim Bank has in place 123 lines of credit, covering over 95 countries in Africa, Asia, Latin America, Europe and the CIS, worth over US$4.07 billion, but Africa seems to be its pet destinations with 46 out of the 95 countries from here.
Speaking to Deccan Herald Exim Bank Executive Director Prabhakar Dalal said that Exim, has signed a MoU with African Development Bank (AfDB) to further its presence in Africa.

The MoU, he said, is targetted at leveraging further credit into the African market — which showcases a huge potential globally. Both are free to conduct studies and propose viable project for influx of cash.
The bank already has good relationships with institutions like Eastern and South African Trade & Development Bank (PTA), Western African Development Bank etc through which it has enabled several Indian firms execute projects in Africa, he added.

Besides improving the reach of Exim through joint-financing projects, the present MoU, he said will also have seminars organised by AfDB in various parts of the country (India), as also special delegations comprising CEO level industrialists led by Exim –— helping in furthering the trade ties.
On areas of focus in Africa, Dalal he said these included sugar, cement, rural electrification, railways, power generabesides pharmaceutical, computers, and infotainment sector.

Meanwhile, AfDB President Donald Kaberuka, who was in City recently, urged Indian companies to look at resilient Africa for business opportunities.
He highlighted areas for cooperation between the regions, such as transport, education, skill development,  infrastructure, ICT development,  et al.
DH News Service