FLAG-OFF CEREMONY SUPPLY OF ASHOK LEYLAND VEHICLES TO ZIMBABWE

A flag-off ceremony was held at the Mumbai Port Trust on June 28, 2015 on the occasion of shipment 

of vehicles and spare parts by Ashok Leyland Ltd. to Zimbabwe. Ashok Leyland Ltd. has been 

awarded the contract for supply of 633 vehicles and spare parts to the Ministry of Tourism and 

Hospitality Industry, Government of Zimbabwe. Under the contract, Ashok Leyland Ltd. will also 

provide training to the buyer's technical staff in operation and maintenance of the products. 

The above contract is being financed by Exim Bank under its Buyer’s Credit [BC] under National 

Export Insurance Account [NEIA] to the extent of USD 49.92 mn extended to Ministry of Finance and 

Economic Development, Government of Zimbabwe. These vehicles will be utilized by the Ministry for 

Tourism and Hospitality activities, especially for promotion of domestic tourism, and supporting 

international tourism, disaster management, anti-poaching activities, peace missions and other 

related purposes.

The flag off ceremony was attended by Exim Bank’s Chairman and Managing Director, Mr. 

Yaduvendra Mathur, Deputy Managing Director, Mr. David Rasquinha and General Manager, Harsha 

Bangari in the presence of officials from Ashok Leyland Ltd., and authorities from Shipping Line, Port 

authorities’ etc. During the ceremony, Exim Bank’s Chairman and Managing Director, Mr. 

Yaduvendra Mathur mentioned that Exim Bank’s BC-NEIA programme is an unique financing 

mechanism that provides a safe mode of non-recourse financing option to Indian exporters and 

serves as an effective market entry tool to traditional as well as new markets in developing countries. 

The Programme is aimed to serve India’s national interest of export promotion and furthering the 

nation’s economic objectives. The current supply of vehicles to Zimbabwe will enhance the bilateral 

ties between India and Zimbabwe.