Mumbai: Export-Import Bank of India (EXIM Bank) today signed a Memorandum of Cooperation (MOC) with the Centre for Microfinance & Livelihood (CML), an initiative of Tata Trusts. CML was conceptualized by Tata Trust as a specialized umbrella support organization for capacity building, research and collaborative direct interventions in the development space in Northeast India. With its mandate, CML takes forward the vision and mission of the Tata Trusts in the states of Assam, Manipur, Meghalaya, Tripura, Arunachal Pradesh, Nagaland, Mizoram and Sikkim.
Under the MOC, both Exim Bank and CML will share their knowledge and connect each other to promising social enterprises for further support, including financial and advisory. The objective of the MOC is to help grassroots enterprise improve their export competitiveness, inter alia, by complying with global standards of quality and work towards developing viable financing models and best practices for projects/enterprises, which can be replicated across different sectors and geographical locations in the Northeast.
The MOC was signed by Mr. Debasish Mallick, Deputy Managing Director, EXIM Bank and Mr. Partho Patwari, Executive Director, CML at Exim Bank’s Head Office in Mumbai on October 31, 2017. During the MOC signing, Mr. Debasish Mallick highlighted that EXIM Bank has been striving towards promotion of exports of products from rural grassroots business enterprises, by providing them with an array of services including those related to financial support, capacity building, and export marketing. The underlying objective is to augment sustainable employment opportunities and exports from the disadvantaged sections of rural India by widening their market beyond the domestic shores. EXIM Bank has supported various grassroots enterprises across different parts of the country. Mr. Mallick emphasized that this partnership with CML was a part of EXIM Bank’s outreach strategy in the Northeast region, to target a wider spectrum of grassroots organizations and would supplement the Bank’s efforts towards boosting exports of handloom and handicraft products from the region.
Expressing his happiness in working with Exim Bank, Mr. Partho Patwari, Executive Director, CML, pointed out that the synergy between the two institutions would improve the quality of business of social enterprises in the Northeast and make them more sustainable in the long run.
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