Export-Import Bank of India is planning to raise about Rs.13,000 crore during 2015-16, David Rasquinha, Deputy Managing Director, said here on Thursday.
Talking to reporters, he said the Centre had earmarked additional capital of Rs.1,300 crore in the budget for 2015-16, same as the current fiscal. Exim Bank could borrow up to ten times the sanctioned amount from the market for lending purposes. This year, the bank raised $2.5 billion, he said.
Mentioning that the bank had a non-performing assets close to three per cent, he said the position was not alarming as some of the acquired Europe companies by Indian firms had gone into trouble in sectors such as auto components, textiles, chemicals and, pharma. Exim Bank had exposure to parent company and it had recourse.
Next week, Exim Bank officials would submit its findings to the Union government on ways to develop bilateral trade with Cambodia, Laos, Myanmar and Vietnam (CLMV) countries through Project Development Companies (PDC).
“These are thrust countries for India. The idea here is to promote investments by Indian companies through Exim Bank…We are setting up a PDC in Africa to identify and develop infrastructure projects. But, CLMV countries need more investments,” he said. Earlier, he said that the bank aims to boost Indian project exports to over $50 billion in the next 5 years from $27 billion through innovative initiatives and by leveraging increasing opportunities in Asia and Africa.
