Just as local trade allows people to contribute to the economy through specialising in one or more fields of production or service, which they find themselves to be competitively capable of providing more efficiently as compared to others while relying on the community to furnish the rest at costs lower than they would have incurred to achieve the same, countries do the same in today’s global community.
Export-Import Bank of Pakistan (EXIM), JS Bank Limited (JSBL) and Climate Resource Coordination Cell (CRCC) signed a Tripartite Memorandum of Understanding (MoU) on October 25, 2022. The purpose of the MoU is to collaborate in developing a programme for greening Pakistan’s exports across multiple sectors and tap into international climate finance opportunities to fund the programme.
EXIM Bank of Pakistan (EXIM Bank), upholding its vision to strengthen Pakistan’s export base, has inked a tripartite MOU with The Bank of Punjab (BOP) and Pakistan Software Export Board (PSEB) under the Software Export Expansion Program (SWEEP), to provide Export Credit Insurance among other Financing and Banking facilities to software exporters.
EXIM Bank CEO Irfan Bukhari told the committee that the bill will play a key role in boosting the country’s exports and will also provide a level playing field to the exporters. The major aim of the bill is to provide material support to exporters in delivering their products to the international markets.
It’s an interesting time to be setting up a new export-oriented development financial institution, but Irfan Bukhari, President, and CEO of EXIM Bank of Pakistan is brim full of enthusiasm about the opportunity and his journey. Bukhari, a former stalwart of the IsDB Group, tells us about his aspirations for the development bank with a mission ‘supporting export growth through diversification’.
On June 9th, 2022, the National Assembly passed the “The Export-Import Bank of Pakistan Bill, 2022” with the Government’s intention to establish the Export-Import (EXIM) Bank of Pakistan as the official Export Credit Agency of Pakistan for the promotion of international trade.