Exim Bank to raise funds up to Rs.13,000 crore

Sarkaritel
By Sarkaritel March 5, 2015 21:25

Exim Bank to raise funds up to Rs.13,000 crore


Chennai, March 5 The Export-Import Bank of India (Exim Bank) would leverage an additional capital infusion of Rs.1,300 crore by the central government to raise around Rs.13,000 crore funds, said a senior official.

“The additional capital infusion of Rs.1,300 crore is for our growth and not for meeting capital adequacy norms,” David Rasquinha, deputy managing director told reporters here on Thursday.

He said the project export finance institution can raise funds up to 10 times of the additional capital infusion through various financial instruments.

According to Rasquinha, the bank’s paid up capital is around Rs.5,000 crore and the total outstanding is around Rs.90,000 crore.

Last year Exim Bank’s book size grew by Rs.9,000 crore and this fiscal the figure is expected to be around Rs.12,000 crore.

Rasquinha said there is good growth prospects in power generation/distribution, water, sanitation and civil construction.

He said Exim Bank aims to boost Indian Project Exports from the current levels of $27 billion to over $50 billion in the next fove years through its innovative initiatives and by leveraging the increasing opportunities in Asia and Africa.

Exim Bank is supporting 374 project export contracts valued Rs.161,083 crore (approx $26.85 billion) that are currently under execution, in 78 countries across Asia, Africa and CIS by 112 Indian companies.

These projects are being supported by Exim Bank through a mix of funded and non-funded facilities.

Exim Bank, in collaboration with the African Development Bank, is also setting up a Project Development Company (PDC) in Africa to identify and develop infrastructure projects with the objective of providing the Indian private sector an opportunity to invest in and implement such projects in Africa.

The PDC is expected to provide specialist project development expertise to take the infrastructure project from concept to commissioning. The PDC shall focus on infrastructure projects that have specific strategic interest to India.

Sarkaritel
By Sarkaritel March 5, 2015 21:25