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India's Exim Bank May Open Branch in Burma

17 September 2012

The Exim Bank of India is thinking of opening a branch in Burma, its executive director, Prabhakar Dalal, said on Sunday. Speaking to reporters, Dalal said the bank has extended a line of credit worth US $8.2 billion to 75 countries, with Burma recently receiving $500 million. The bank currently has 10 branches in India and seven abroad. Trade between the two countries has increased dramatically since Burma introduced reforms last year, and is expected to more than double by 2015, according to Burma’s consul general in India, Kyaw Swe Tint.