Export-Import Bank of the United States is open to funding Indian nuclear power projects that will source equipment and services from the US.
If a US company is involved in providing equipment and services for nuclear power project in India, the Ex-Im Bank could look at such a proposal, Chairman and President James Lambright said on Tuesday.
The mandate of the US government-owned Ex-Im is to promote exports.
Indicating that the fate of Indo-US 123 agreement has no implication on the funding, Lambright said financial support for the nuclear power project was independent of the deal.
The official did not say if any Indian power company was in talks to secure funds for the project.
He said the funding support from the Ex-Im Bank in US currency costs much less than rate at which rupee loans as well as international commercial loans contracted. The funding from Ex-Im is on the risk of the US government, while commercial financing happens with India risk.
Meanwhile, the agency said it will provide $6 billion to Indian carriers.
Some of the airlines expected to use the credit are Air India and Jet Airways. Ex-Im Bank's outstanding exposure to India is about $3.5 billion, about 6 per cent of its balance sheet, including the credit to the airlines as well as Reliance Industries for a refinery project in Gujarat.
"We are interested to provide funding to more projects in India and hope the country becomes the largest market for us," he said.
It has also established a $2.2 billion funding facility for eight Indian financial institutions, including State Bank of India and Punjab National Bank, who will in turn lend to infrastructure projects.
