Economy
Exim Bank extends USD 250 million line of credit to Mozambique
With the signing of this LOC agreement, Exim Bank to date has extended 14 LOCs to Mozambique, taking their total value to USD 772.44 million.
Export-Import Bank of India (Exim Bank) on Friday said it has extended a USD 250-million (about Rs 1,870 crore) line of credit (LOC) to Mozambique for improving power supply quality in the country.
The agreement to this effect was signed on August 3 through exchange between Saroj Khuntia, general manager, Exim Bank, and Adriano Isaias Ubisse, national directorate of treasury, Ministry of Economy and Finance, Mozambique.
With the signing of this LOC agreement, Exim Bank to date has extended 14 LOCs to Mozambique, taking their total value to USD 772.44 million.
Exim Bank has now in place 264 LOCs, covering 62 countries across regions including Africa, Asia, and Latin America, with credit commitments of around USD 25.98 billion, available for financing exports from India.
Courtesy : New Indian Express
==== + ====