Exim Bank to raise Rs 19,500 cr in 2009-10

KOLKATA: Exim Bank will raise Rs 19,500 crore during 2009-10 to provide export finance to Indian corporates, its CMD T C Venkat Subramanian said on Friday.

Subramanian said, given the gloomy economic situation, raising availability of export trade finance was becoming a problem.

During the current year, the bank would raise USD one million from foreign resources and Rs 14,500 crore from domestic markets.

In response to the crisis, he said Exim Bank was in discussions with similar agencies of other countries for arranging lines of credit.

In this context, he said Exim Bank was talking to US Exim Bank and SACE of Italy.

Meanwhile, the bank has tied up 150 million euro trade finance from European Investment Bank, he said at a FICCI banking conclave.