Conclusion of MOU between NEXI and ECGC Concerning Cooperation toward Economic Development

Nippon Export and Investment Insurance (NEXI: Chairman and CEO: Kazuhiko Bando) has concluded a Memorandum of Understanding (MOU) with Export Credit Guarantee Corporation of India (ECGC), the export credit agency (ECA) in India, concerning the joint effort toward the both countries’ economic development.

The signing ceremony was held taking the opportunity of Indian Prime Minister Modi’s visit to Japan for a meeting with Prime Minister Abe. The MOU was signed by Ms. Geetha Muralidhar, Chairman and Managing Director of Indian ECGC, and Mr. Kazuhiko Bando, Chairman and CEO of NEXI.

The Government of India has announced “Make in India” aiming higher economic growth rates in order to expand employment opportunities by promoting investments from Indian and foreign companies mainly in the manufacturing industry. Japan is also pursuing the realization of business projects that contribute to the two countries’ economic and social development, with all-out efforts by both government and private organizations capturing increasing demand in the Indian market.

Within in this context, NEXI is expected to further support Japanese firms’ export and investment, to contribute to the both countries’ economic development and to help business projects in third party countries such as Africa, building a base in India, by developing a framework for cooperation between the two governmental financial institutions. NEXI has therefore entered into the MOU this time.

The cooperation between NEXI and ECGC will also work for “Free and Open Indo-Pacific Strategy” which promotes peace, stability and prosperity of the international community.

NEXI will continue to actively support Japanese companies’ overseas operations by deepening cooperation with government- affiliated financial institutions of other countries and regions.

Main items of MOU

• a) Information exchange on cooperative projects between Japanese and Indian companies, or joint projects for third countries by both countries’ companies
• b) Mutual trainings that would be beneficial for staff members from both institutions to acquire greater knowledge
• c) Opinion exchange on international trade insurance system
• d) Reciprocal cooperation in collecting receivables
• e) Discussions on future collaboration reinsurance

Overview of ECGC ltd.

Established	1957
Location	Mumbai
Shareholder	Wholly owned by the Government of India
Number of employees	About 600 people

Contact Information

Policy Coordination Group
Tel: +81-3-3512-7456