Exim Bank Commits Credit to Asian Countries

IAS Prelims 2023

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.

The countries getting credit support include Bangladesh ($9.5 billion), Sri Lanka ($3 billion), Nepal ($1.5 billion) and Myanmar ($1.5 billion).

Exim Bank is extending credit support of $1.6 billion for setting up a super-critical ultra thermal power plant in Bangladesh. Another $2 billion will be for supply of buses and railway wagons, among others.

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.

For the current year, Exim Bank is targeting a growth of 8-9% as key markets have started to recover. In the current year, the bank plans to raise $2.5 billion from overseas markets.

The bank is also planning to extend cross-border financing to Cambodia and Vietnam.