The Hindu Business Line : Exim Bank, Basix pact to boost rural exports — To jointly promote livelihoods among poor households

Basix is a new generation livelihood promotion institution currently working with over 2.5 lakh poor households in 50 districts covering eight States.

Hyderabad , Dec. 3

AIMED at promoting the country's exports in general and from rural areas in particular, the Export-Import Bank of India (Exim Bank) has entered into a memorandum of cooperation (MoC) with Basix, a Hyderabad-based micro-finance institution.

The Exim Bank General Manager, Mr K. Muthukumaran, and the Basix Group Chief Executive Officer, Mr Vijay Mahajan, signed the MoC here on Saturday.

Exim Bank, the State-owned apex financial institution, is engaged in financing, promoting and facilitating the country's international trade.

The bank seeks to develop commercially viable relationships with externally oriented companies by offering them a comprehensive range of products and services aimed at enhancing their efforts at internationalisation.

Basix is a new generation livelihood promotion institution currently working with over 2.5 lakh poor households in 50 districts covering eight States.

It is working with a mission to promote a large number of sustainable livelihoods, for the rural poor and women, through the provision of financial services and technical assistance in an integrated manner.

According to an Exim Bank release, the two institutions have agreed to cooperate to promote export-oriented livelihoods among the economically active rural and urban poor households as well as among small enterprises on agreeable terms.

The two institutions have agreed to leverage their respective strengths and exchange regular information on the international markets for various products, technology, trade, businesses and investment opportunities to facilitate increased cooperation for commercialisation of the country's rural sector in the overseas market.

The MoC also provides for jointly organising workshops, training programmes, seminars, technical sessions and meetings where officials of both organisations and representatives of the leading international trade promotional organisations from developed countries can participate.

According to the release, it was also agreed to conduct joint studies and research in areas of mutual interest including studying the feasibility of making joint investment in development ventures abroad to promote Indian exports. Further, it was agreed to provide technical assistance to micro and small enterprises in the farm and non-farm sectors in other developing countries and to institutions that promote such enterprises.

Exim Bank said it had earlier signed similar MoCs with Dhan Foundation in Madurai, Tamil Nadu, and with Uravu in Wayanad, Kerala. Exim Bank has already been interacting with Basix and the Rajasthan Government for the establishment of an export cluster for handicrafts in Rajasthan, the release said.

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