Expecting a Successful Future in RE Sector:US Exim Bank
The US Export-Import Bank, also known as Exim Bank, may work closely with various states in India for financing renewable energy projects.
Recently, many states have shown great interest in the segment prompting the US Exim Bank to work at both state and national levels, Fred Hochberg, chairman and president of the bank, was quoted as saying by the media.
Hochberg is currently visiting India as part of a US delegation which has arrived for a bilateral strategic dialogue. The India book of the Exim Bank is estimated at about $8.2 billion and Hochberg feels that there is greater clarity in policy policy, making in the country.
Hochberg further said that in the past three years, his bank, which finances importers with an intent to increase jobs back home in the US, has rendered a finance of $ 350 million to solar projects here. “In less than three years, we have done about $ 350 million worth of financing for solar projects, making us the largest international financier for solar power in India,”
However, businesses still have a “wait-and-see” approach, especially in the wake of the general elections next year. “The path seems clearer today than it did five to six months ago. There is some degree of caution right now. There is a little bit of a wait-and-see, in terms of immediate prospects…when we have an election, people just wait to see how it turns out. My hunch is this is a great democracy and they are probably not as different from what goes on in the US before a major election,” Hochberg said.