IDBI Bank, EXIM in co-finance deal

IDBI Bank has tied up with the Export Import Bank of India to facilitate loans to export-oriented small and medium scale enterprises. “The two banks would co-finance, co-arrange, syndicate rupee and foreign currency loans, provide refinance facility in Indian rupee and foreign currency for extending short-term export credit and long term capex loans to eligible export-oriented companies, particularly in the SME sector,” IDBI Bank said in a release. Both the banks said they would also co-operate in promotional activities and provide advisory services to assist each other’s clients.