Export-Import Bank of India (Exim Bank) will soon set up a project development company in association with the African Development Bank to evaluate the infrastructure projects in the African continent.
State Bank of India and Infrastructure Leasing & Financial Services (IL&FS) will be the other partners in the company.
The company will be mandated to conduct a detailed feasibility study of potential infrastructure projects in Africa. Exim Bank will reap the benefits if it finances an Indian company which will work on such projects.
The company will be set up in either Kenya, South-Africa or Mauritius.