EXIM BANK OF INDIA & EXIM BANK OF MALAYSIA BERHAD SIGNS MOU TO ENHANCE CO-OPERATION IN FINANCING
BANKING/FINANCE
by Shrutee K/DNS
December 1, 2015: A
Memorandum of Understanding (MoU) was signed today between Export-Import Bank
of India and Export-Import Bank of Malaysia Berhad, to strengthen cooperation
in financing, guaranteeing and other financial mechanism to support projects of
interest to both the Banks. The MoU was signed by Mr. Yaduvendra Mathur,
Chairman & Managing Director, Export-Import Bank of India, and Ms. Norzilah
Mohammed, Acting Chief Executive Officer, Export-Import Bank of Malaysia
Berhad, in Tokyo, on the sidelines of the 21st Annual Meeting of the
Asian Exim Banks Forum (AEBF).
While both these institutions are cooperating with
each other under the umbrella of Asian Exim Banks Forum, through this MoU, both
these institutions intend to identify areas of cooperation in providing funding
support for Indian companies setting up operations in Malaysia, and Malaysian
companies setting up operations in India. Under the MoU, both the Banks shall
also endeavour to finance infrastructure and other projects in third countries
where Malaysian and Indian enterprises are involved, and with a view to
promoting economic cooperation and industrial development, as per their
respective mandates.
Possibilities of financing in local currencies of eligible
projects including project finance, equipment financing, export and import
financing, overseas investment financing etc. in accordance with laws,
regulations and regulatory requirements of India and Malaysia, will also be
explored, under this MoU. The MoU further enhances the scope of information and
knowledge sharing between the two Banks.
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