Speaking at the inaugural session "India-Africa: Synergies for ONE Growth" of CII-EXIM Bank India Conclave, Jaishankar said, "India's development partnership with Africa will have a strong focus on digital, green, healthcare, food security and water, in tune with the pressing priorities of A
Africa occupies an important place in India's Foreign Policy and during the last nine years, this has been consciously stepped up under the direction of PM Modi, said External Affairs Minister S Jaishankar on Wednesday in Delhi.
Taking to Twitter, MEA Spokesperson Arindam Bagchi said, "Deputy PM Vital Kamerhe of Democratic Republic of Congo arrives in New Delhi to participate in the CII-EXIM Bank Conclave. An opportunity to bolster the - trade, economic and commercial partnership."
"Warm welcome to Vice President Constantino Chiwenga of Zimbabwe as he arrives in New Delhi for CII-EXIM Bank Conclave. The visit will give boost to India-Zimbabwe development partnership and trade and economic ties," tweeted Arindam Bagchi
According to the finance ministry's tweet on Wednesday, the finance minister encouraged the engagement of JBIC with Indian financial institutions such as Exim Bank, National Investment and Infrastructure Fund (NIIF) and lending banks to leverage the strength and complementarities of both cou
Recently inaugurated Pokhara International Airport has come up with a USD 215 million loan from the Chinese EXIM Bank. The terms for this financing are highly adverse for Nepal's economy. The rate of interest charged on this loan is 2 per cent, much higher than what other multilateral lender
Making a special address in Parliament, the President said that the EXIM Bank of China last night handed over a new letter of assurance pertaining to Sri Lanka's debt restructuring, according to Newswire.
EXIM Bank of China, as the official bilateral creditor, provided a financing support document to the Ministry of Finance, Economic Stabilisation and National Policies of Sri Lanka, saying it is going to provide an extension on the debt service due in 2022 and 2023.
The EAM said that the budget for the new year will enhance the ease of doing business as it includes KYC process simplification, Greater GIFT IFSC activities and establishing an EXIM Bank subsidiary for trade re-financing.
China's Belt and Road Initiative (BRI) has left scores of Lower and Middle-Income Countries (LMIC) saddled with "hidden debts." China is using debt rather than aid to establish a dominant position in the international development finance market.
This development comes a few days after India backed the island nation's efforts to secure a loan from the global lender, as the country seeks assurances that debt will be restructured as per the IMF programme.
India's EXIM bank and State bank of India, for the import of essential commodities, extended export credit facilities worth USD 1,500 million to Sri Lanka.