EXIM bank identifies seven sectors to support financially
18 Jul '05
1 min read
Chairman and managing Director of Export Import Bank of India, TC Venkat Subramanian stated that the bank is set to raise Rs 8,000 crore to meet its fund necessities.
The bank would raise Rs 4,400 crore from foreign currency loans and rest of the proposed amount, Rs 3,600 as rupee loans, which would be in the form of commercial papers of varying maturities, informed Subramanian.
During the financial year 2004-05, the bank raised Rs 6,000 crore - 3,000 crore each from foreign currency and rupee loans.
Exim Bank has selected seven sectors, which includes textiles, pharmaceuticals, auto components, agriculture, biotechnology, healthcare and tourism to provide financial support for exporters.
According to Subramanian, the textiles sector would require a funding of $35 billion till 2015.
The bank will provide credit lines in the next quarter to the meet the $400 million plan for promotion of the exports in the CIS countries and West Africa.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
