Exim Bank forming corpus to fund SME exporters

Kolkata, Aug 14 (UNI) Export-Import Bank of India(Exim Bank) in collaboration with International Trade Co-operation (ITC) Geneva is forming a corpus of Rs 50-60 crore to fund exporters in small and medium enterprises (SME) sector.

The fund would focus on diverse business activities in the SME sector unlike other funds which targets a particular sector, Exim Bank's chief manager and resident representative Jogender Singh told reporters in the sidelines of a CII seminar today.

Initially Exim Bank would give loans to 50-60 companies, which have been identified, ranging between Rs 5 lakhs to Rs one crore, Mr Singh said.

The new scheme would become operational by September-October this year, he said.

UNI TJP PL KLC1425