Индия: Страна - партнер Иннопром - 2016
Forthcoming Events in India
EXIM BANK’S LINES OF CREDIT TO RUSSIAN BANKS
- Lines of Credit (LOC) extended to The Bank for Foreign Economic Affairs (VNESHECONOMBANK), Russia
- Line of Credit of USD 100 million to VNESHECONOMBANK
EXIM Bank extended an LOC of USD 100 million to the Russian State-owned ‘Bank for Development and Foreign Economic Affairs of Russian Federation’ (VNESHECONOMBANK). The Line of Credit Agreement was signed in Moscow, on December 7, 2009, during the state visit of the Hon’ble Prime Minister of India to Russia, and was made effective on January 18, 2010. This LOC is to be utilized for financing India’s export of capital goods, equipment and services to Russia. Under the LOC, EXIM Bank will reimburse 90% of contract value to the Indian exporter, upfront upon the shipment of goods and rendering of services. Based on the request of VNESHECONOMBANK and to enhance the utilization of LOC, an MOU was signed between EXIM Bank and VNESHECONOMBANK on December 21, 2010, in New Delhi, during the visit of the Hon’ble President of Russia to India. The MOU envisages utilization of the LOC by the Russian Bank for Development, Russia – a wholly owned subsidiary of VNESHECONOMBANK engaged in providing financial support to Russian small and medium enterprises.
- Line of Credit of USD 10 million to VNESHECONOMBANK
EXIM Bank, in November 2001, had extended an LOC of USD 10 million to VNESHECONOMBANK. Under the LOC, three contracts involving credit aggregating USD 3.89 million, comprising two contracts, of Cadila Pharmaceuticals and Micro Exports, valued at USD 1.84 million for export of pharmaceutical products and another of Axiom International Projects Ltd., valued at USD 2.05 million for export of complete lines for producing polymeric packing materials, have been executed and disbursement effected.
- Line of Credit of USD 25 million to Bank for Foreign Trade (VNESHTORGBANK), Russia
EXIM Bank’s LOC Agreement for USD 25 million was signed on July 3, 2002. The LOC Agreement became effective on November 14, 2002. An amount of USD 10 million still remains to be utilized.