DEALS

Facilitating trade across
the Africa-India corridor

SHARE
Facebook
Twitter

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.


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.

Related Articles

DEALS

Towards creating a sustainable future in retailing

We are proud to have acted as Original Lender and Sustainability Agent for Shoprite Group for their ZAR2 billion Sustainability-linked Loan.

DEALS

Facilitating financing of sustainable spaces

We are proud to have acted as sustainability coordinator for Growthpoint Properties in refreshing their externally verified, Green Bond Framework to comply with the new JSE Listing Requirements and arranging their Green Bond issuance valued at R1 billion.

DEALS

Expanding the continent’s access to green energy

We are proud to have acted as Mandated Lead Arranger, Hedge Bank, Agent Bank and Account Bank for EDF-R’s three wind energy projects, part of South Africa’s REIPPP Programme.