Global Trade Finance Pvt Ltd, the factoring joint venture company of Exim Bank of India, WestLB (Westdeutsche Landesbank Girozentrale) of Germany and IFC, Washington, is expected to begin operations in the next ten days.
Talking to newspersons here on Monday, after participating in an interactive session with members of the Indian Chamber of Commerce (ICC), the Managing Director of Exim Bank, Mr T. C. Venkat Subramanian, said the paid-up equity of the new outfit was at Rs 45 crore, with the bank and IFC holding 35 per cent and 25 per cent respectively, and WestLB holding 40 per cent.
Global Trade Finance will be a member of Factors Chain International, Amsterdam, a network of 144 factoring companies from 49 countries.
