Row rect Shape Decorative svg added to bottom DEALS Facilitating trade across the Africa-India corridor Absa | Corporate and Investment Banking > Insights and Events > Absa Corporate and Investment Banking India Exim Bank SHARE Absa Corporate and Investment Banking and India Exim Bank have entered into an Issuing Bank Agreement The agreement allows India Exim Bank to periodically issue Guarantees in favour of various Banks in India (confirming Banks), in support of the payment obligations of the Issuing Bank (Absa CIB) arising under an Eligible Transaction issued or to be issued by the Issuing Bank in connection with exports of goods from India to the African continent. Furthermore, with a view to augment, facilitate and support, India's exports overseas, India Exim Bank has introduced a Trade Assistance Programme ("TAP") to leverage the experience and network of alliances and partnerships among commercial banks / financial institutions in India and overseas banks by providing risk mitigation support under Eligible Instruments under TAP. Your browser does not support the video tag. Anand Naidoo Managing Executive, Client Coverage Africa for Absa CIB formalises the agreement with India Exim Bank, through which Absa CIB will be able to facilitate more trade transactions for our clients in the Africa-India corridor. Through the medium of TAP, India Exim Bank will offer participating commercial banks in India partial or full guarantees to cover payment risk on banks in the emerging markets, and simultaneously also facilitate Indian banks in meeting their commitment by counter-guaranteeing / fronting their guarantees with a view to enhancing participation of Indian contractors for executing projects in Africa. Through this agreement, Absa CIB will be able to facilitate more trade transactions for our clients in the Africa-India corridor. Contact us Vinesh Kassen (ZA) https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Bridging markets to unlock bold ambitions Absa Corporate and Investment Banking (CIB) acted as the sole South African bank appointed as Global Coordinator, Joint Bookrunner and Dealer Manager in the successful issuance of a US$500 million international bond for Bidvest. Read more DEALS Advancing greener goals with solar progress At Absa CIB, we believe progress is measured not only by what we build, but by the future we help shape. That’s why our R2.2 billion financing of Red Rocket’s Tournee solar project goes beyond infrastructure – it’s accelerating South Africa’s renewable energy transition for lasting impact. Read more DEALS Innovative Benchmark Solutions Advancing Oil Supply Growth We structured a unique ZARONIA-linked debt facility, to foster supply chain resilience and drive innovation in the South African FMCG sector. Read more
