India's Largest Database on New Projects
EXIM India to open office in Ethiopia
27 May 2010: The Export and Import (EXIM) Bank of India will open an office in Ethiopia in June 2010.
Ethiopia's Minister of Finance and Development and EXIM bank officials are expected to sign the agreement soon, which will further boost ties between India and East Africa. The bank and the Ethiopian ministry have been in negotiations for the last couple of months about the opening of the East African office in Addis Ababa.
It will be the third office of EXIM bank in Africa. The bank has offices in Johannesburg and Dakar, responsible respectively for southern and western Africa. In Ethiopia, EXIM has so far been active in disbursing loans for the construction of the Tendaho sugar factory and the expansion of two existing sugar factories.
Source: WebIndia123