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 Building Namibia’s fiscal strength through purpose-led partnership Supporting the Government of the Republic of Namibia with a ZAR 1.5 billion facility that enables Eurobond repayment obligations and strengthens domestic fiscal resilience. Read more DEALS Distributed Energy. Powering Africa’s low-carbon leap Absa supports CrossBoundary Energy’s $225 million capital raise, contributing up to $100 million to expand renewable infrastructure, enable the mining of critical transition metals such as copper, and extend energy access across underserved African markets. Read more DEALS Seeding success through inclusive partnerships Absa has partnered with HEINEKEN Beverages on a R1.2 billion initiative to support black-owned SMEs across South Africa. As the Fund Administrator, Debt Funder, and Strategic Enabler, Absa will manage two development funds - the Supplier Development Fund and the Enterprise Development Fund to empower at least 125 black-owned SMEs. Read more
