- India’s EXIM Bank opened its East Africa office to boost business & trade.
- The Export-Import Bank of India (India Exim Bank) has recently inaugurated the East Africa Representative Office in Nairobi.
- It will enhance India’s business presence in the region.
- This will boost trade and investment between India, Kenya, and East Africa.
- Merchandise trade between India and East Africa reached US$12.9 billion in 2022.
- Under the Overseas Investment Finance Programme, India Exim Bank has supported ventures in 14 African Countries.
Export-Import Bank of India (Exim Bank)
- Export-Import Bank of India (Exim Bank) was established in 1982. Its headquarters are located in Mumbai.
- It provides loans to Indian exporters and foreign governments for infrastructure projects
- It is wholly owned by the government of India and was set up to finance, facilitate and promote India’s international trade.