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Exim Bank plans to promote Project Exports
Indian companies, especially the MSMEs in the logistics and shipping segments are with some good news. The leading export finance organisation Exim Bank has targeted the African continent's need for investment for development. The bank has initiated a large number of programmes to promote project exports.

The developmental financial organisation has seen its loan portfolio growing 16% to Rs 75,873 crore in 2013-14, as reported by Economic Times.

Project export contracts supported by the bank in 2013-14 amounted to Rs 34.131 crore which were secured by 40 companies in 35 countries.

As on March 31, export contracts of 319 projects valued at Rs 1,40,326 crore supported by the bank were under execution in 74 countries across Asia, Africa and CIS by 99 Indian companies.

Its loan to the MSME sector has shown a growth of 40% while its loan portfolio has grown 16% during the period which underlines the organisation's trust to promote MSME sector.

To bring infrastructure projects in Africa to a bankable stage and facilitate exports from India to Africa, the bank plans to set up a Project Development Company (PDC) for the first time.

To promote trade and investment between India and East Africa through the support of SMEs in their access to finance, Exim bank has signed an MoU with the International Trade Center (ITCBSE 3.86%) in March.

There is tremendous value in engaging SMEs and supporting Indian investments in East Africa Yaduvendra Mathur, CMD, Exim Bank says.

"There is a huge appetite in leveraging the global value chain for the commodities and services sector for the export market. There are already Indian farms with a presence in East Africa and Exim Bank is ready to support trade development through South-South cooperation," he said.

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