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Exim Bank raises about Rs. 6,700 crore from overseas bonds

According to the reporters, an announcement of raising of $1 billion (about Rs 6,700 crore) by selling bonds to overseas investors had been announced by the export import bank of India.

A new proactive marketing strategy has been needed by the Thailand to revive the export sector, which has contracted for three consecutive years, and the only answer would be a “Thailand Team”.

Bank of Thailand`s newly appointed President Pisit Serewiwattana had floated the proposal. He said in an interview which was held last week, that Thai agencies could not keep on performing their tasks separately as they have been doing, given the fragile demand in conventional export markets.

He said, “We are selling rice to Mozambique and several small countries. If those countries` central banks issue letters of credit that say the payment would be completed in 20 years, Exim is ready to guarantee the payments, but it is the Commerce Ministry`s decision whether or not to say yes to this deal.”

He added that if they had something like a one stop shop deal with it, this process could be faster. He said that they would need to clinch more deals like this.

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