A memorandum of understanding (MoU) has been signed between the Export-Import Bank of India and the Export-Import Bank of Malaysia Berhad to strengthen cooperation in financing, guaranteeing and other financial mechanism to support projects of interest to both the Banks.
The MoU was signed by Yaduvendra Mathur, Chairman & Managing Director, Export-Import Bank of India, and Ms Norzilah Mohammed, Acting Chief Executive Officer, Export-Import Bank of Malaysia Berhad, in Tokyo, on the sidelines of the 21st Annual Meeting of the Asian Exim Banks Forum (AEBF).
While both these institutions cooperating with each other under the umbrella of Asian Exim Banks Forum, through this MoU, both institutions intend to identify areas of cooperation in providing funding support for Indian companies, setting up operations in Malaysia, and Malaysian companies setting up operations in India.
Under the MoU, both the Banks shall also endeavour to finance infrastructure and other projects in third countries where Malaysian and Indian enterprises are involved, and with a view to promoting economic cooperation and industrial development, as per their respective mandates.
Possibilities of financing in local currencies of eligible projects including project finance, equipment financing, export and import financing, overseas investment financing etc. in accordance with laws, regulations and regulatory requirements of India and Malaysia, will also be explored, under this MoU. The MoU further enhances the scope of information and knowledge sharing between the two Banks.
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