EXIM Bank boosts credit to exporters hit by US tariffs, eyes Africa expansion
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India's Export-Import (EXIM) Bank is increasing credit support to exporters and helping them diversify into newer markets, particularly Africa, following punitive U.S. tariffs on imports from the South Asian nation, a top official said. State-owned EXIM Bank - which provides export financing and backs loans granted by commercial lenders to buyers of Indian goods - has eased risk limits on at least a fourth of its overseas banking partners, said Tarun Sharma, the deputy managing director at EXIM Bank of India. "Wherever there's a requirement, we are working to see how do we give enhanced limits to the exporters," Sharma said in an interview. The bank has partnerships with more than 100 overseas banks across 54 countries under its trade assistance program. EXIM Bank is also offering more shorter-tenure credit and credit against future receivables to address exporters' immediate working capital needs, Sharma said.The U.S., India's largest export par...