India Exim Bank Partners with Nedbank for Trade Support

Export-Import Bank of India (India Exim Bank) has signed a Master Risk Participation Agreement (MRPA) with Nedbank Limited (Nedbank), South Africa, under India Exim Bank’s Trade Assistance Programme (TAP), for supporting trade transactions.  The agreement was signed on September 2, 2024, in Johannesburg, South Africa by Mr. T.D. Sivakumar, Chief General Manager of India Exim Bank and Mr. Yudhvir Harrilal, Divisional Executive, International Financial Institutions (IFI), Nedbank.

India Exim Bank, through its global network of offices and wide range of financial, advisory and capacity building activities, has strived to play a catalytic role, as a key player, in promoting India’s international trade and investment relations with partner countries, while contributing to the internationalisation endeavours of Indian businesses.

Under TAP, India Exim Bank provides credit enhancement to trade instruments, thereby augmenting the capacity of commercial banks/financial institutions to undertake cross-border trade transactions involving markets where trade lines are constrained, or where the potential has not been harnessed.

During the signing of the agreement, Mr. Sivakumar highlighted that over the last few months, India Exim Bank has supported multiple trade transactions with several countries in Asia, Africa, Latin America, among others under TAP, covering a wide range of sectors including agriculture, automotive parts, capital and engineering goods, food, iron & steel, textiles, among others. With the increasing diversification of India’s global trade towards developing countries, African countries have emerged as significant trade partners for India. As per Ministry of Commerce and Industry, India’s total trade with Africa amounted to USD 83.4 billion in FY 2023-24. The conclusion of MRPA with Nedbank opens up opportunities to facilitate incremental trade between India and Africa. Such support towards trade facilitation would complement and strengthen the growing economic engagement between India and Africa.