Indian importers to benefit from $300 million trade facility

Indian importers of US capital goods are to benefit from an agreement between the Industrial Development Bank of India and the Export-Import Bank of the United States.

India's infrastructure sector is set to benefit from an agreement between the Industrial Development Bank of India IDBI and the Export-Import Bank of the United States US Exim bank. The $300 million facility is the first of its kind between the US Exim bank and the Indian financial institution. The US Exim bank has also approved a $200 million facility to IDBI's subsidiary, the Small Industrial Development Bank of India SIDBI.

Half of the $300 million facility for IDBI will be used to guarantee rupee -bonds issued by the bank in the domestic and international markets for maturities up to 15 years. The facility is called...

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