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India Exim Bank Opens Nairobi Office To Boost East Africa Trade

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.