Exim Bank announced setting up of project development firm KPDC in Africa

India’s EXIM bank announced that it will set up in Africa a development firmKPDC(Kukuza Project Development Company), in collaboration with others, to expedite the infrastructure project from the concept stage to the commissioning stage in the African continent.

Exim Bank’s proposal comes on the occasion of third India- Africa Summit(held in New Delhi, India). The company will be in service from first quarter of 2016. Other investors in the company are the IL&FS Group, the African Development Bank and theState Bank of India.

Key points :

• Chairman and MD of EXIM Bank: Shri Yaduvendra Mathur
• Deputy Managing Director of Exim Bank: David Rasquinha