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Annual Report 2007-08
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:: PRESS RELEASES |
Exim Bank Of India Extends A Line Of Credit Of US$ 10 MN To National Bank Of Uzbekistan
Exim Bank of India and National Bank for Foreign Economic Activity of The Republic of Uzbekistan (NBU) have signed an Agreement for a Line of Credit (LOC) of US$ 10 million to be provided by Exim Bank of India to NBU for financing India's exports to Uzbekistan. The Agreement was signed by Mr. Nirmit Ved, Resident Representative at Exim Bank's office in Dubai and Mr. Mekhriddin Abdullaev, First Deputy Chairman of the Board, NBU, on Thursday, August 21, 2008 at Tashkent. The LOC will facilitate and boost India's exports to Uzbekistan.
Exim Bank will reimburse 90% of contract value to the Indian exporters, upfront upon the shipment of goods. India's export to Uzbekistan in 2007-08 amounted to US$ 79 mn, registering an increase of 37 % over the previous year. Main products exported from India to Uzbekistan are drugs, pharmaceuticals & fine chemicals, Machinery & instruments and manufactures of metals.
Exim Bank has now in place 100 Lines of Credit, covering 91 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments amounting to US$ 3.28 billion, available for utilization for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters.
For further information, please contact
Mr. Prabhakar Dalal,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22162073/22172310,
Fax::(022) 22182460.
E-mail:eximloc@eximbankindia.in
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