Exim Bank inks pact with Japanese bank to boost infrastructure development

Tags: News
State-run Exim Bank has signed an agreement with Japan Bank for International Cooperation (JBIC) to boost infrastructure development in India as well as to enhance connectivity and regional integration between the country and its neighbours.

The agreement was inked by Exim Bank Chairman and Managing Director Yaduvendra Mathur and JBIC Governor and Chief Executive Hiroshi Watanabe in Tokyo on September 1 during the visit of Prime Minister Narendra Modi.

"It (the MoU) reinforces the strong commercial relationship between the two nations. The availability of financing from both the institutions will allow Indian and Japanese companies to realise their full potential in infrastructure development projects," Mathur said.

"This collaboration will help Indian and Japanese companies to participate in critical infrastructure development projects for the region's development," said Watanabe.

Under the agreement, both the institutions will also explore the possibility of financing business opportunities in other countries, including those in Africa where Indian and Japanese companies have large presence, a statement from Exim Bank said here today.

Last January, New Delhi and Tokyo had announced their intention to further cooperate in building infrastructure that would improve connectivity and regional integration between India and its neighbouring countries to support cross-border business, regional growth and development.

JBIC is into lending, investment and guarantee operations while complementing the private sector financial institutions.

EDITORIAL OF THE DAY

  • Saffronites need to build their own edifices and narratives

    The news that the BJP-led NDA government, no admirers of India’s first prime minister, want to give a ‘contemporary’ look to the capital’s mos

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Examining times for learning

The central advisory board of education in its meeting on ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture