- September 20, 2016
- Posted by: Marvin Garcia
A Memorandum of Understanding (MoU) was signed between Export-Import Bank of India and Export-Import Bank of Malaysia Berhad to strengthen cooperation in financing, guaranteeing and other financial mechanism to support projects of interest to both the banks. The MoU was signed by Mr. Yaduvendra Mathur, Chairman and Managing Director, Export-Import Bank of India, and Ms. Norzilah Mohammed, Acting Chief Executive Officer, Export-Import Bank of Malaysia Berhad, in Tokyo.
Under the MoU, both the banks shall also endeavor to finance infrastructure and other projects in third countries where Malaysian and Indian enterprises are involved, and with a view to promoting economic cooperation and industrial development as per their respective mandates. Possibilities of financing in local currencies of eligible projects including project finance, equipment financing, export and import financing, overseas investment financing, etc. in accordance with laws, regulations and regulatory requirements of India and Malaysia, will also be explored, under this MoU. The MoU further enhances the scope of information and knowledge sharing between the two banks.