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India Exim Bank extends US$250M of credit to Mozambique

  • 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.

Export-Import Bank of India (Exim Bank) on Friday said it has extended a US$250M (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.

Also read: India gives debt relief to Mozambique amidst COVID, says Indian envoy

With the signing of this LOC agreement, Exim Bank till date has extended 14 LOCs to Mozambique, taking their total value to US$ 772.44M.

Exim Bank has now in place 264 LOCs, covering 62 countries across regions including Africa, Asia, and Latin America, with credit commitments of around US$25.98B, available for financing exports from India.

Source: PTI via Club of Mozambique

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