India’s EXIM Bank opens East Africa office to boost business & trade in continent
Export-Import Bank of India (India Exim Bank) has recently inaugurated the East Africa Representative Office in Nairobi with an eye on expanding India’s business footprints in the resource rich and demographically young continent.
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With the establishment of the India Exim Bank’s East Africa Representative Office in Nairobi, there is expected to be greater engagement with the industry, private and public sector companies, banks and financial institutions in the region, thereby augmenting trade and investment between India, Kenya and the region.
Merchandise trade between India and East Africa has shown significant growth in the last decade, growing from US$ 9.7 billion in 2013 to reach US$ 12.9 billion in 2022. India’s exports to the East Africa which were at US$ 8.6 billion in 2013 increased to US$ 9.4 billion in 2022.
India Exim Bank is the leading financial institution engaged in financing, facilitating & promoting India's International trade and investment, and also plays a critical role in policy formulation and project export finance under India’s economic diplomacy. In addition to Kenya, the Bank also has offices in Abidjan, Côte d'Ivoire and Johannesburg, South Africa.
The African continent has been a key focus as part of India Exim Bank’s strategy to promote and support two-way trade and investment. As a partner
