By Indus News Wire

WASHINGTON - The Export-Import Bank of the United States recently approved a $2.2 billion Indian infrastructure funding facility that will support U.S. exports to Indian projects in sectors such as power and renewable energy generation, oil and gas development, small aircraft, airport development and health care.

With the funding, eight Indian financial institutions will provide guarantees to expedite processing of Ex-Im Bank-backed medium- and long-term financing for Indian buyers of U.S. exports. Each financial institution has an underlying pre-approved credit line of $50 to $250 million, and one lender, Power Finance Co., has a pre-approved line of $800 million. Financing is provided in U.S. dollars.

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Posted by boyang at May 5, 2008 5:10 PM