- 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$250M (about Rs 1,870 crore) line of credit (LOC) to Mozambique for improving power supply quality in the country.
The agreement to this effect was signed on August 3 through exchange between Saroj Khuntia, general manager, Exim Bank, and Adriano Isaias Ubisse, national directorate of treasury, Ministry of Economy and Finance, Mozambique.
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With the signing of this LOC agreement, Exim Bank till date has extended 14 LOCs to Mozambique, taking their total value to US$ 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
