Current Affairs - Finance - Discussion

The State Bank of India (SBI) and India Exim Bank are addressing the trade finance gap to support businesses in African countries. This initiative aims to enhance capacity, particularly for smaller businesses, and facilitate trade by funding local banks in Africa through syndications. The Trade Assistance Programme (TAP) also supports commercial banks in financing cross-border trade. By bridging the trade finance gap, SBI and India Exim Bank promote economic cooperation and growth between India and African nations. This strategic move strengthens bilateral trade relationships and fosters business development in the region.