Chennai, March 5 (IANS) The Export-Import Bank of India (Exim Bank) would leverage an additional capital infusion of Rs.1,300 crore by the central government to raise around Rs.13,000 crore funds, said a senior official.
"The additional capital infusion of Rs.1,300 crore is for our growth and not for meeting capital adequacy norms," David Rasquinha, deputy managing director told reporters here on Thursday.
He said the project export finance institution can raise funds up to 10 times of the additional capital infusion through various financial instruments.
According to Rasquinha, the bank's paid up capital is around Rs.5,000 crore and the total outstanding is around Rs.90,000 crore.
Last year Exim Bank's book size grew by Rs.9,000 crore and this fiscal the figure is expected to be around Rs.12,000 crore.
Rasquinha said there is good growth prospects in power generation/distribution, water, sanitation and civil construction.
He said Exim Bank aims to boost Indian Project Exports from the current levels of $27 billion to over $50 billion in the next fove years through its innovative initiatives and by leveraging the increasing opportunities in Asia and Africa.
Exim Bank is supporting 374 project export contracts valued Rs.161,083 crore (approx $26.85 billion) that are currently under execution, in 78 countries across Asia, Africa and CIS by 112 Indian companies.
These projects are being supported by Exim Bank through a mix of funded and non-funded facilities.
Exim Bank, in collaboration with the African Development Bank, is also setting up a Project Development Company (PDC) in Africa to identify and develop infrastructure projects with the objective of providing the Indian private sector an opportunity to invest in and implement such projects in Africa.
The PDC is expected to provide specialist project development expertise to take the infrastructure project from concept to commissioning. The PDC shall focus on infrastructure projects that have specific strategic interest to India.
Twitter-Musk Deal: Elon Musk challenges the CEO of Twitter, Parag Aggarwal does this work, the deal will be done
Amidst the ongoing controversy between the world's richest man Elon Musk and the micro-blogging site Twitter, Musk has made a new offer to Twitter's CEO. Elon Musk has once again expressed his desire
Israel-Hamas War: Summit of Arab leaders with Biden canceled, tension increases after attack on Gaza hospital
Tension in the Middle East may increase further after an attack on a hospital in Gaza amid the Israel-Hamas war. The attack has derailed US diplomatic efforts to garner support for Israel's right to
Lok Sabha: Changed seat allocation due to Priyanka's arrival becomes a problem for 'INDIA'; SP upset over sending Ayodhya MP back
The process of seat allocation in the new Lok Sabha has created a rift in the India Alliance. SP, Trinamool Congress, and DMK, which are part of the alliance, are angry with the Congress. All three
National Medicinal Plants Board set up
New Delhi, March 20 (IANS) The AYUSH ministry has set up a National Medicinal Plants Board for the overall development, processing and cultivation of medicinal and aromatic plants, parliament was
Odisha to encourage people on Renewable Energy: CM
Bhubaneswar, March 26 (IANS) The Odisha government plans to bring in a policy which would encourage people to harness and utilise renewable energy on their rooftops and in backyards, Chief
China-US entangled over military aid to Russia, Moscow gave this answer
The US and China are at loggerheads amid reports of Russia seeking military help from China. However, Russia has said that it did not ask for any military help from China and is capable of conducting
When will the schools open: The process of unlocking begins, know when the schools will start in these 7 states
Keeping in view the circumstances arising due to corona infection in the country, various restrictions were imposed. All schools and colleges in the country were closed. But now due to fewer cases of
Indonesia Oil Depot Fire: Fierce fire in oil depot in Indonesia, 17 killed; evacuation of thousands
A massive fire broke out at a fuel storage depot in the Indonesian capital on Friday, killing at least 17 people. At the same time, dozens of people were injured in this incident. Thousands of nearby
Salman's driver confesses to hit-and-run accident
Mumbai, March 30 (IANS) In a dramatic twist in the ongoing retrial of Bollywood actor Salman Khan's hit-and-run case, his driver Ashok Singh has confessed to being responsible for the accident, a
Envoy invites Mamata to Pakistan
Kolkata, March 18 (IANS) Describing his meeting with West Bengal Chief Minister Mamata Banerjee as a "dream come true", Pakistan's High Commissioner Abdul Basit on Wednesday invited her to
