The Export-Import Bank of the United States will be expanding its India portfolio from the present $3.5 billion to $5 billion in the next two years.
The bank has, so far, made a $2.45 billion commitment for infrastructure projects and capital goods purchases in India by doing due-diligence with nine banks.
"We are focussing more on financing projects in aviation, Railways, metro-transport systems, telecom, oil and gas, heavy equipment and hospitals," bank's vice-president and manager (strategic initiatives division) Raymond J Ellis said in a presentation made here on Monday to the member companies of the Confederation of Indian Industry (CII).
The export support types provided by the bank include working capital loan guarantees and long and medium term loan guarantees. In the case of the latter, the guarantees cover commercial lenders for 100 per cent of the principal and interest against repayment risks on foreign buyers debt obligation. The risk will be borne by the US government, Ellis said.
Speaking on the occasion, Bank's director (office of renewable energy and environmental exports) Craig S O'Connor said the bank will give top priority to supporting renewable energy projects.
This is a segment that is growing rapidly in India, O'Connor said while pointing to projects such as Tannir Bhavi power project in Karnataka and AMR water project in Andhra Pradesh that have already been financed by the bank.