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Arun Jaitley inaugurates Export-Import Bank of India's representative office in Dhaka

10-Oct-2017
Arun Jaitley inaugurates Export-Import Bank of India's representative office in Dhaka

NEW DELHI: Export-Import Bank of India's Representative Office at Dhaka was formally inaugurated by the Hon’ble Minister of Finance and Corporate Affairs, of the Republic of India, H. E. Mr. Arun Jaitley and the Hon’ble Minister of Finance of the People’s Republic of Bangladesh, H.E. Mr. Abul Maal Abdul Muhith, in Dhaka on October 04, 2017, during the Event hosted by the High Commission of India in association with the Policy Research Institute of Bangladesh.

Export-Import Bank of India has, on behalf of the Government of India, extended third Line of Credit [LOC] of USD 4.50 billion to the Government of the People’s Republic of Bangladesh for financing development projects in Bangladesh.

Mr. Rasquinha, speaking during the Event, highlighted the growing economic engagement between India and Bangladesh. Mr. Rasquinha further mentioned that the LOC of USD4.50 billion is the largest ever LOC to any Country. The Bank, has, on behalf of the Government of India, now extended three Lines of Credit aggregating USD7.362 billion to the Government of Bangladesh.

The Bank has now in place 224 Lines of Credit covering 63 countries in Africa, Asia, Latin America, Oceania and the CIS, with credit commitments of over USD 21.36 billion, available for financing exports from India. Besides promoting India's exports, Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

Apart from its Head Office in Mumbai, the Bank has regional offices spread across the major cities of India viz. Ahmedabad, Bangalore, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, New Delhi and Pune. The overseas offices of the Bank are located in Abidjan, Addis Ababa, Dubai, Johannesburg, London, Singapore, Washington DC, Yangon and Dhaka.

Source:- Dailyshippingtimes.com

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