STATESMAN NEWS SERVICE
Kolkata, 2 August
Export-Import Bank of India (Exim Bank) supported 293 project export contracts valued at Rs 1,16,019 crore in 68 countries across Asia, Africa and CIS by 90 Indian companies as on 31 March 2013, executive director of Exim Bank, Mr David Rasquinha said here at a workshop today.
Speaking on “Financing Options for Project Exports”, Mr Rasquinha said that out of these 293 projects 163 projects valued at Rs 20,682 crore in 41 countries are under Exim Bank&’s Government of India supported Lines of Credit (LOCs).
The balance 130 projects valued at Rs 95,337 crore in 40 countries, are on progress payment basis.
The bank has till date sanctioned an aggregate amount of $279 million for 4 projects valued $326 million. It has also given in-principle commitments for supporting 51 projects with an aggregate value of $5.14 billion, he said.
The Union minister for commerce, industry and textiles, Mr Anand Sharma had earlier announced the introduction of a “pilot scheme” of two per cent interest subvention for project exports through Exim Bank for countries of the Saarc region, Africa and Myanmar.
Since Europe is losing its attraction as a major export destination after the depression, Exim Bank has been shifting its focus towards Africa, Far East and West Asia, Mr Rasquinha told reporters on the sidelines of the workshop.
The Exim Bank chief said that the bank was looking at a 20 per cent growth this financial year.