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The European Bank for Reconstruction and Development (EBRD) has shown keen interest in working with India Inc as several Indian companies have a regional or global presence.
“Our experience working with Indian companies has been excellent. I wish we would do more of it... There are plenty of opportunities,” said EBRD President Suma Chakrabarti, adding that though India is not a shareholder, many Indian firms have worked with it in different regions.
The London-based multilateral development bank has a presence in over 30 countries from central Europe to central Asia and the southern and eastern Mediterranean, and works primarily with the private sector.
“There is a great advantage for Indian companies. Quite a few of them are not just Indian companies, they are either regional or in the case of Mahindra and Tata — global companies. We are very interested in bringing companies to our region that are global as it raises the standards of the countries that we work in,” Chakrabarti told BusinessLine.
Past collaborationsIn the past, the EBRD had a very good experience working with Indian companies and has collaborated with firms such as Tata Power and SREI Infrastructure in Russia, Tata Beverages for a hydro electric project in Georgia as well as with Jindal Steel and Power Ltd, he said.
Chakrabarti said the EBRD is also set to sign up with ACME Cleantech for two solar projects in Kazakhstan and more Indian companies are also showing “appetite” for collaborations.
Pact with industry chambers“They can make good returns and will be very well protected if they come with us,” he said, adding that EBRD has signed memoranda of understanding with industry chambers including CII, FICCI and Assocham.
The bank, however, has a very rigorous process for appraising projects and structuring financing. “We have a rigorous due diligence and compliance function. We start the beginning of the year with a huge number of projects but by the end of the year, we will probably finance 350-400 projects,” Chakarabarti said, adding that the EBRD is not like a commercial bank.
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