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Project Exports from India under the new “Buyers Credit Scheme” of the Exim Bank of India and the Interest Equalization Support
The Ministry of Commerce, Government of India, in conjunction with Exim Bank of India and Export Credit Guarantee Corporation (ECGC) has been supporting ‘Project Exports’ from India under the new “Buyers Credit Scheme” of the Exim Bank. The Ministry of Commerce has recently extended an Interest Equalization Support (IES) to Exim Bank for bringing down the ‘coupon rate’ for financing of Project Exports in some select countries including Myanmar. Exim Bank will offer long term credit to sovereign governments for infrastructure export projects. Project exports up to US $ 500 million are being covered in the pilot phase and depending upon greater plan budget support, this scheme is intended to be scaled up for project export of US $ 1 billion. Individual cap per project is visualized at about US$ 100 million. The Buyer Credit Scheme would be for a 8-12 year period and the coupon rates are expected to be LIBOR + 200-300 basis points.
Interested Indian enterprises engaged in project exports may use this facility. They may contact the Exim Bank for more details. The website of Exim Bank is www.eximbankindia.in and their Head Office is located at Floor 21, Center One, World Trade Center, Cuffe Parade, Mumbai-400005, India (Email: cag@eximbankindia.in)
