IDBI ties up with Exim Bank to co-finance export-oriented cos
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IDBI ties up with Exim Bank to co-finance export-oriented cos

Last Updated: Monday, February 25, 2013, 21:36
 
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IDBI ties up with Exim Bank to co-finance export-oriented cos
Mumbai: Public sector lender IDBI Bank has entered into an agreement with Exim Bank for co-financing of export-oriented companies, the bank said in a release Monday.

Under the memorandum of cooperation (MoC), IDBI Bank and Exim Bank would co-finance, co-arrange, syndicate rupee and foreign currency loans, jointly finance export-oriented projects in the country.

It will also provide refinance facility in rupee or in foreign currency for extending short-term export credit and long-term capex loans to eligible export-oriented companies, particularly in the SME sector, the release said.

"The memorandum of co-operation with Exim Bank would help IDBI Bank in increasing our reach to MSME Sector," IDBI Bank Chairman and Managing Director R M Malla said.

PTI


First Published: Monday, February 25, 2013, 21:36


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