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Export-Import Bank of India (Exim Bank) is the principal financial institution of India, set up to finance, facilitate and promote international trade of India. As part of its efforts to promote export, Exim Bank offers Lines of Credit to various countries for facilitating export of goods and services from India.
Exim Bank extends lines of credit to overseas governments / agencies nominated by them or financial institutions overseas to enable buyers in those countries to import capital / engineering goods, industrial manufactures and related services from India on deferred payment terms. This facility enables importers in those countries to import from India on deferred credit terms as per the terms and conditions already negotiated between Exim Bank and the overseas agency. The Indian exporters can obtain payment of eligible value from Exim Bank against negotiation of shipping documents, without recourse to them. The following is the Lines of Credit currently available for utilization:
|
Sl
No
|
Borrower
|
Amount
|
Amount
available for utilization
(As
on Nov 20, 2001)
|
Terminal
date for utilization:
Opening
of L/C
|
Terminal
date for utilization:
Disbursement
|
|
1
|
Offshore
Development Company (Pty.), Namibia
|
Rs.20
crs
|
Rs.17.6
crs.
|
24-10-2001*
|
24-04-2002*
|
|
2
|
East
African Development Bank
(Covering Kenya,
Tanzania and Uganda)
|
US$5
mn.
|
US$5
mn.
|
3-10-2001**
|
3-04-2002**
|
|
3
|
Banque
Internationale Arabe de Tunisie, Tunisia
|
US$
5 mn.
|
US$
5 mn.
|
28-02-2002
|
30-08-2002
|
|
4
|
Korea
Development Bank, South Korea
|
US$
20 mn.
|
US$
20 mn.
|
Open
ended
|
Open
ended
|
|
5
|
Exim
Bank of Thailand
|
US$
10 mn.
|
US$
10 mn.
|
30-05-2002
|
30-11-2002
|
|
6
|
Corporacion
Andina De Fomento (Andean Development Corpn.)
(Covering
Bolivia, Colombia, Ecuador, Peru and Venezuela)
|
US$
10 mn.
|
US$
10 mn.
|
26-08-2002
|
26-02-2003
|
|
7
|
Banco
Industrial de Venezuela, C.A.(BIV),
Venezuela
|
US$
10 mn.
|
US$
10 mn.
|
***12
months from the effective date
|
***18
months from the effective date
|
|
8
|
Vnesheconombank,
Russia
|
US$
10 mn.
|
US$
10 mn.
|
***
12 months from the effective date
|
***18
months from the effective date
|
|
9
|
Eastern
and Southern African Trade and Development Bank (PTA Bank)
|
US$
5 mn.
|
US$
5 mn.
|
11-12--2002
|
11-06-2003
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* Being extended by one year
** Likely to be extended
*** LOCs are expected to be operational shortly.
Besides the above, the Exim Bank also proposes to extend new Lines of Credit for exports to Iran, Russia, Mexico, Brazil and Countries in the Central American Region. Objective of the Lines of Credit is to achieve additionality of exports. Under these Lines of Credit, export of all goods, including commodities, can be covered. This opens up a new business opportunity for Indian companies venturing into the international market.
The lines of credit are denominated in convertible foreign currencies / rupees and extended to sovereign governments / agencies nominated by them or financial institutions. Such governments / agencies / institutions are the borrowers and Exim Bank the lender.
Terms and conditions of different lines of credit are varying and details in respect of each line of credit can be obtained directly from Exim Bank.
Exim Bank is keen to associate itself with the export efforts of member-exporters of leather & leather products, through its Lines of Credit.
Please visit www.eximbankindia.com
for further information.
Member-exporters may like to note the above and directly contact the Exim Bank for any inquiry in the matter.
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