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Exim Bank targets USD 25 bn lines of credit in FY19: MD

Press Trust of India  |  New Delhi 

Export Import of (Exim Bank) targets to disburse USD 25 billion loans in the current financial year, its said today.

"We aim lending USD 25 billion lines of credit for in the current financial year," Rashquinha told here on the sidelines of an outreach programme for solar projects.

He said the is looking to maintain its growth rate at around 10-15 per cent in the current and the following fiscal year.

Speaking at the 'Business Outreach Programme For Solar Projects under India's Lines of Credit' organised by the Exim Bank, and the International Solar Alliance, he said the sector is growing at a rapid scale and technology can help devise better storage methods.

"As we have the of scale setting in, there is an increasing emphasis on storage so that can be stored and used later on when the generation is not possible," Rashqinha said.

He said the has grown rapidly over the last ten years from just a share of less than a per cent of global installed capacity of 0.8 per cent to over 14 per cent achieved in 2017.

"This exponential growth points to the potential of the solar sector. We are in a situation where the goal is very much is in sight and the is available. It is only will and push. As the special purpose vehicle of the government, looks forward to PPP and other facilities in solar sector," he added.

The programme saw participation from a number of destinations, including African countries who have interests in solar projects.

In 2017-18, approved loans aggregating Rs 978.26 billion, while disbursements were Rs 685.35 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 07 2018. 17:15 IST