India Exim Bank, ADB, JICA helps Shriram Finance raise USD 306 mn

New Delhi: Export-Import Bank of India (India Exim Bank) is happy to announce successful participation in fund raising of USD 306 mn by Shriram Finance Limited (SFL) along with co-financers – Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA). India Exim Bank’s loan is intended to support MSMEs with an export orientation. This is the first time three development financial institutions viz. India Exim Bank, ADB and JICA have come together to finance a private sector deal.

Speaking on the occasion, Ms. Trupti Mhatre, General Manager, India Exim Bank, stated, “we are happy to be a part of this collaboration. This funding will help SFL identify and support more such MSMEs, among others, who are exporting various goods and services from India. She also mentioned about India Exim Bank’s Trade Assistance Programme (TAP) under which the Bank has identified 73 countries across continents for supporting India’s trade”.

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Under TAP, the Bank supports various trade instruments, including LC confirmation and negotiation. It also provides credit enhancement to Indian partner banks by way of issuing SBLCs and Risk participation. TAP will help SFL’s clients to unlock the export potential and diversify its export destination.

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