India Exim Bank Opens Nairobi Office To Boost East Africa Trade:
The Export-Import Bank of India (India Exim Bank) recently opened its East Africa Representative Office in Nairobi, Kenya.
- This is part of a plan to grow its business around the world.
- The goal of this project is to improve India’s trade and business ties with East Africa, which is known for having a lot of resources and young people.
- India and East Africa have done a lot more business with each other over the past ten years.
- From USD 9.7 billion in 2013 to USD 12.9 billion in 2022, trade in goods grew quickly.
- India’s exports to East Africa went from USD 8.6 billion in 2013 to USD 9.4 billion in 2022, which shows that trade ties are still getting better.
- The India Exim Bank is the country’s main bank. Its job is to finance, facilitate, and promote India’s foreign trade and investments.
- As part of India’s economic diplomacy, one important part of its job is to help make policy and provide money for projects that will be exported.
- The Bank has offices in Abidjan, Côte d’Ivoire, and Johannesburg, South Africa.
- These strategic locations in important African cities show that the Bank is committed to building economic ties with the region.
