IDBI Bank has entered into a memorandum of cooperation (MOC) with EXIM Bank, wherein the bank and EXIM Bank would, co-finance, co-arrange, syndicate rupee and foreign currency loans, jointly finance export-oriented projects in India, provide/avail refinance facility in Indian Rupees and/or Foreign Currency for extending short term export credit and long term capex loans to eligible export-oriented companies, particularly in the SME sector.
Besides, both IDBI Bank and EXIM Bank would also co-operate in promotional activities, provide advisory services to assist each other’s clients and co-operate in training of each others’ staff members.
EXIM Bank is an apex financial institution fully owned by the Government of India, is engaged in financing, promoting and facilitating India’s international trade.
IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,034 branches and 1,627 ATMs.
