Exim Bank to set up PDC with African Development Bank

Exim Bank will soon set up a Project Development Company (PDC) in association with the African Development Bank, a multilateral institution for 55 African countries. According to David Rasquinha, Executive Director, Exim Bank, the PDC would identify opportunities in Africa and bring these opportunities towards financial closure. State Bank of India and Infrastructure Leasing & Financial Services will be the other partners in the PDC. Each of the four partners in the PDC will chip in $5 million to start the venture. The project reports that PDC will put together will save precious time and money that companies otherwise would have to spend in undertaking techno-economic feasibility studies.