The Exim Bank is exploring options to set up a branch in Myanmar, according to Executive Director Prabhakar Dalal.
The bank has signed a memorandum of understanding for extending a line of credit of $500 million to that country.
Dalal, who was here in the Gitam School of International Business in
connection with the graduation ceremony on Sunday, told reporters that
that there was a likelihood of setting up a branch in Myanmar. At
present, the Exim Bank has 10 branches in the country and seven abroad.
He said the bank was extending line of credit to 75 countries to the
extent of $8.2 billion, enabling Indian exporters/companies to take up
infrastrucutural and other projects in those countries. Concessional
credit would be made available to those countries. Besides, he said, the
bank was also offering buyer's credit to Indian companies for taking up
projects abroad. "We have recently signed agreements with two companies
and 24 more such projects are in different stages of negotiations," he
said.
(Source www.myanmar-business.org)
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