Home / Knowledge / News / Textiles / Ex-Im Bank of the US commits $2.45 bn to India

Ex-Im Bank of the US commits $2.45 bn to India

10
Aug '09
The Export-Import Bank of the US has approved nine Indian financial institutions and made a $ 2.45 billion commitment under the India Infrastructure Facility for India's infrastructure projects and capital goods purchases. The Facility is available for long and medium term transactions and projects and provides for expedited processing and minimizes documentation, Mr. Raymond Ellis, Vice President, Strategic Initiatives Division of the Ex-Im Bank of the US, said.

The Indian FIs approved by the US Ex-Im Bank are India Infrastructure Finance Company Ltd.; Indian Renewable Energy Development Agency; IDBI; IDFC; IL&FS; PFC; PNB, SBI and ICICI Ltd.

At a meeting with Indian industry representatives organized by FICCI, Mr. Ellis said, the Ex-IM Bank has A current exposure to Indian borrowers of $ 7.2 billion in sectors such as aviation, telecom, oil & gas, heavy equipment sales and leases, medical equipment, services and energy.

Ex-Im Bank assists exporters by guaranteeing term financing to creditworthy international buyers, both private and public sector, for purchases of U.S. goods and services. With Ex-Im Bank's loan guarantee, international buyers are able to obtain competitive term financing from lenders when financing is otherwise not available or there are no economically viable interest rates on terms over one-to-two years.

Under its Direct Loans facility, the Ex-Im Bank assists exporters by providing fixed-rate loans to creditworthy international buyers, both private and public sector, for purchases of U.S. goods and services.

Mr. Ashok Pasricha, Senior Engineer, US Ex-Im Bank outlined the special programmes of the Bank. These include Medical Equipment InitiativeC(MEI), Transportation Security Exports Program (T-SEP) and Environmental Exports Program (EEP).

Under the MEI, the Bank offers solutions to increase the export of medical equipment from U.S. companies to foreign borrowers that would not go forward without Ex-Im Bank support. The MEI includes creative financing structures and enhanced coverage.

Under the T-SEP Initiative, it provides enhanced financing support for U.S. exports that are related to international transportation security. Specifically, Ex-Im Bank will provide enhancements to its normal support for eligible transportation security transactions under its medium- and long-term insurance, guarantee and loan programs.

He said, the Ex-Im Bank was committed to increasing the level of support it provides to U.S. exporters of environmentally beneficial goods and services, as well as to U.S. exporters participating in environmental projects located internationally. To achieve this objective, Ex-Im Bank's Environmental Exports Program (EEP) provides enhanced levels of financial support for a broad range of renewable energy and other environmentally beneficial exports.

Mr. V K Topa, Advisor, FICCI, called upon Indian companies to look at the various financing options available for importing US products for their projects in India and take advantage of the funding options being offered by the US Ex-Im Bank.


Federation of Indian Chambers of Commerce and Industry


Must ReadView All

Pic: Better Work

Apparel/Garments | On 24th Oct 2020

Positive change in Cambodian garment sector due to ILO BWP

Cambodian factories receiving the full package of services by Better...

Pic: Awaj Foundation

Apparel/Garments | On 24th Oct 2020

COVID erodes income of a third of Bangla apparel workers

Nearly a third of Bangladeshi garment workers suffered loss of...

Pic: Ralph Lauren

Fashion | On 24th Oct 2020

Ralph Lauren, Parity.org convene group to close gender gap

Ralph Lauren, which designs and markets premium lifestyle products,...

Interviews View All

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search