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 Empowering Agricultural Trade in Africa This USD 45 million facility supporting Royal Nuts’ subsidiary, Dorado in Côte d’Ivoire, the world’s largest single-roof cashew processing facility, driving economic growth, community upliftment, and global market expansion, will boost its working capital and optimise supply chain efficiency in West Africa. Read more DEALS Accelerating transformative Infrastructure development for long-term impact Our $75 million deal with the Emerging Africa & Asia Infrastructure Fund (EAAIF) is set to accelerate infrastructure development for lasting impact - bridging Africa’s long-term debt gap, and supporting projects that promote infrastructure development, economic growth and renewable energy expansion. Read more DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more
