Question

Fill in the blanks with appropriate words in the following statements.
The bank that supplies credit to import and export trade is called ______________.

Answer 1

The bank that supplies credit to import and export trade is called the EXIM bank also referred to as the Export-Import bank which was set up in 1981 under the Export-Import Act 1981 to provide efficiency to the trade system. EXIM Bank provides financial assistance to exporters and importers. It functions as the principal financial institution for coordinating the work of institutions engaged in financing the export and import of goods and services with a view to promoting the country's international trade.