India Exim Bank has opened its East Africa Representative Office in Nairobi, marking a strategic move to expand India’s business presence in the resource-rich and youthful continent. This office aims to enhance engagement with industries, private and public sector companies, banks, and financial institutions in the region, thereby boosting trade and investment between India, Kenya, and the broader East African region.

Merchandise trade between India and East Africa has grown significantly over the past decade, increasing from USD 9.7 billion in 2013 to USD 12.9 billion in 2022. India’s exports to East Africa also saw a rise from USD 8.6 billion to USD 9.4 billion during the same period. This growth underscores the importance of the new office in Nairobi, which complements India Exim Bank’s existing offices in Abidjan, Côte d’Ivoire, and Johannesburg, South Africa, and aligns with the Bank’s strategy to foster two-way trade and investment in Africa.

India Exim Bank has been instrumental in promoting India’s international trade and investment, playing a crucial role in policy formulation and project export finance. It has extended over 200 Lines of Credit worth over USD 12 billion to 42 African countries, supporting socio-economic development by facilitating essential infrastructure, improving livelihoods, and boosting industrial output. This initiative benefits companies in both Africa and India across various sectors, particularly MSMEs, thus creating and sustaining jobs.