Export-Import Bank of India (Exim Bank) will be providing lines of credit worth more than $15 billion to Asian countries over the next three to four years, said a top official.
The countries getting credit support include Bangladesh ($9.5 billion), Sri Lanka ($3 billion), Nepal ($1.5 billion) and Myanmar ($1.5 billion).
“We are extending credit support of $1.6 billion for setting up a super-critical ultra thermal power plant in Bangladesh,” said David Rasquinha, MD, Exim Bank.
“Another $2 billion will be for supply of buses and railway wagons, among others,”he said.
Sri Lanka will get credit support of $3 billion for developing railway and water projects among others. Nepal will use the credit for developing its transportation system. The bank is also planning to extend cross-border financing to Cambodia and Vietnam.
For the current year, Exim Bank is targeting a growth of 8-9% as key markets have started to recover.
Fund raising
In the current year, the bank plans to raise $2.5 billion from overseas markets. “Right now, we are very liquid and might think of raising money after July. The current liquidity will last till December. Currently, we are watching a few markets — Thailand, Poland, Australia or Singapore — and might tap them, if there is an opportunity,” he said.
