HSBC India and UK Export Finance (UKEF), the United Kingdom’s export credit agency, intend to establish a financing programme of up to £100 million to support Indian Micro, Small and Medium enterprises (MSMEs) and corporates for financing their imports from the UK. This partnership is expected to enhance the availability of credit for Indian MSMEs and boost trade ties between the two countries. HSBC India and UKEF on Thursday signed a Letter of Intent (LoI) to enable them to work together on opportunities relating to UKEF’s guarantee-backed structures. HSBC India and UKEF will work closely to originate, structure and extend financing and credit facilities to Indian MSMEs. Commenting on this announcement, Hitendra Dave, CEO, HSBC India, said, “The partnership with UKEF will help leverage our inherent synergies and boost trade and economic ties between India and UK”.
HSBC India and UK Export Finance (UKEF), the United Kingdom’s export credit agency, intend to establish a financing programme of up to £100 million to support Indian Micro, Small and Medium enterprises (MSMEs) and corporates for financing their imports from the UK. This partnership is expected to enhance the availability of credit for Indian MSMEs and boost trade ties between the two countries. HSBC India and UKEF on Thursday signed a Letter of Intent (LoI) to enable them to work together on opportunities relating to UKEF’s guarantee-backed structures. HSBC India and UKEF will work closely to originate, structure and extend financing and credit facilities to Indian MSMEs. Commenting on this announcement, Hitendra Dave, CEO, HSBC India, said, “The partnership with UKEF will help leverage our inherent synergies and boost trade and economic ties between India and UK”.