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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (867)	2/24/2000 10:25:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT US Exim Bank Hoping To Do More In India This year Thursday, February 24 7:45 PM SGT Clinton To Address Clean Environment Issues In India BOMBAY (AP)--Environmental technology will figure in President Bill Clinton's discussions with Indian officials during his visit to India next month, an official said Thursday. "This will be high on the agenda of President Clinton and I believe he will address this question of environmental technology," James Harmon, chairman of the U.S. Export-Import Bank told business leaders in Bombay, India's financial capital. The bank is an independent government agency that helps finance the sale of U.S. exports, primarily to emerging markets, by providing loans, guarantees and insurance. The bank is trying to identify an Indian state or city that it will fund. "We are in search of a state, even a city, that is moving in the right direction. We could find a way to fund that state if it has a special environment program," he said. The bank gave the Argentine city of Buenos Aires a similar loan of $250 million. Harmon said he will tell Clinton about the bank's recent decision to guarantee up to $1 billion in loans to encourage small and medium Indian companies to buy American goods. The program is aimed at mid-sized Indian companies that can't borrow dollars, he said. The bank plans additional funding for environmentally friendly projects. "We desire to do more in environmental issues, for clean water and clean air," Harmon said. US Exim Bank Hoping To Do More In India This Year Harmon led a team of five officials to Delhi, India's capital, Madras, a southern Indian city and Bombay. They met with government officials and businessmen to identify areas to increase investment. "Our mission is to do more in India. Our mission is clearly to help in the environmental area...This is a year when we will do a lot in India, a year for further partnerships with India." The bank signed an agreement Tuesday with the Power Financing Corp. to make available $500 million for power projects. The bank's outstanding loans and guarantees to Indian companies are $1.8 billion in sectors such as aviation, power and heavy engineering. Investment in India should be three times more than the current level, Harmon said, comparing the bank's outstanding loans of $6 billion to China and $4 billion to Indonesia. Harmon's meetings with Indian government ministers, officials and business leaders are a prelude to Clinton's visit beginning March 20. The U.S. is India's largest trading partner. -Dow Jones