India Exim to promote trade with Eastern Europe

Indian exporters look to the export-import bank of India for comfort when exporting to Eastern Europe.
The export-import bank of India Exim bank will confirm export letters of credit from pre-approved banks in the Former Soviet Union FSU and Central and Eastern Europe CEE countries through a new programme between the Exim bank and the European Bank for Reconstruction and Development EBRD. The arrangement aims to boost Indian exports to a region considered to be high-risk.

The Export Credit Loan Arrangement Technique ECLAT sees the Exim Bank confirming and guaranteeing letters of credit, issued by 30 banks in FSU and CEE, including the American Bank of Albania, the International Bank of Azerbaijan Republic and the Bank of Georgia. The importer's bank will seek confirmation of the letter...

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