27868 - Exim Bank of India Trade Finance

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Summary of Proposed Investment

Project Number

27868

Company Name

EXPORT-IMPORT BANK OF INDIA

Date SPI Disclosed

Apr 9, 2009

Country

India

Industry

Financial Markets

Projected Board Date

May 28, 2009

Status

Completed

Sector

Commercial Banking - SME Finance

Department

Global Industry, Financial Markets

Environmental Category

Previous Events

Approved : Jun 12, 2009
Signed : Jun 16, 2009
Invested : Jun 22, 2009

Project Description

Export-Import Bank of India (“Exim Bank”) was formed in 1981 under the Export-Import Bank of India Act, and is a financial institution whose capital has been wholly subscribed by the Government of India. Exim Bank provides financial assistance to exporters and importers and also aims to develop relationships with export-oriented companies by assisting them in various capacities such as identifying overseas markets, providing loans and guarantees and export credit. Its non-institutional clients include mainly private sector entities.

The proposal is to extend a loan of up to $60 million ($30 million for IFC’s account, $30 million to be mobilized from at least one commercial private sector bank) for a tenor of up to 6 months. The proceeds of the IFC loan will be mainly used to extend loans to the SME exporters in the private sector to finance their exports.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.0
Equity

Development Impact

- Access to finance for the SME sector: IFC’s portion of the loan will be used by the Bank mainly to on-lend to the export-oriented SME sector.
- Support for International Trade: The project will support international trade as it will help corporates including SMEs secure financing to execute their export orders which may currently be held in abeyance for the lack of financing.
- Relationship with Government of India: The loan will be extended to an undertaking, 100% owned by the Government of India engaged in export promotion activities and will demonstrate IFC’s commitment in supporting the exports and the SME sector and the economy at a time of an economic downturn.

This project involves IFC support for the business of trade finance and has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. Considering the nature of activities supported, the project will be required to:

- Develop a procedure relevant to its business process, prior to disbursement, that is satisfactory to IFC, and that ensures that all its proposals are screened and processed to avoid supporting activities on the FI exclusion list
- Identify qualified persons to manage and implement the procedure
- Demonstrate commitment and resources to implementing the procedure
- Demonstrate commitment to applying the labor standards established by the IFC Performance Standard 2: Labor and Working Conditions
- Submit a periodic report to IFC as per a format to be provided by IFC

Contacts

For Inquiries About the Project, Contact

Mr. R. W. Khanna
Chief General Manager
Center One Building, World Trade Center Complex, Cuffe Parade, Mumbai 400005, India
Telephone: +91 22 2217 2641
Fax: +91 22 2218 2497

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Washington DC 20433
Telephone: 202-473-3800
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This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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