October 13, 2020 (MLN): The Federal Cabinet, in the meeting held today, approved the Export-Import Bank of Pakistan (EXIMBP) Bill.
According to Abdul Razak Dawood, the Bank will start its operations soon after enactment. Objective of the EXIM Bank is to support exporters with facilities such as export credit guarantees, financing for working capital and capital goods, project financing together with bid bonds, etc.
The EXIM Bank is another pillar being set up to support our exporters and hopefully, due to risk sharing by the Bank, it will enable us to move further with geographical diversification and various other goals enunciated in Strategic Trade Policy Framework.
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