Export-Import Bank of India (Exim Bank) may soon get a $300-million IFC loan which will help it finance trade between India and other South Asian nations.
International Finance Corporation(IFC) arm would part-finance the credit through a mix of its own resources and syndicated loans to be raised from international financial houses and institutions. The World Bank arm said it would extend ?a long-term loan on IFC?s own account and mobilisation of parallel loans from international commercial banks to Exim Bank?.
Exim Bank offers a variety of financial services to exporters and importers to strengthen the country?s international trade. The services offered by the Bank include pre-shipment credit, supplier?s credit, and credit for project exporters and exporters of consultancy and technological services. It also provide financial guarantee to exporters and importers to raise foreign currency denominated loans.
Besides, the Bank also provides financial aid to other lines of businesses including finance for export oriented units, overseas investment finance, and credit lines for small and medium enterprises. The Bank was set up with an aim to improve the country?s share in world merchandise and services trade. It subsidiary, Global Procurement Consultants Ltd floated in 1996 in partnership with private and public sector consultancy firms provides procurement related services particularly pertaining to multilateral agencies such as World Bank, ADB and African Development Bank. As of 2009, Exim Bank had disbursed credit to the tune of Rs 12,399.82 crore and had loan assets worth Rs 3,415.64 crore.
