New Delhi: Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 250 million for Improving of Quality of Power Supply in Mozambique.
The LOC Agreement to this effect was signed on Monday, August 03, 2020, through exchange between Mr. Saroj Khuntia, General Manager, Exim Bank and Mr. Adriano Isaias Ubisse, National Directorate of Treasury, Ministry of Economy and Finance, Government of Republic of Mozambique.
With the signing of the above LOC Agreement for USD 250 million, Exim Bank, till date, has extended 14 (fourteen) Lines of Credit to the Government of the Republic of Mozambique, on behalf of the Government of India, taking the total value of LOCs to USD 772.44 million. Projects covered under the LOCs extended to the Government of Republic of Mozambique includes supply of Locomotives, Coaches, construction of Borewells and installation of hand pumps, construction of Incubator facility Research and Learning centre, Technology park and administrative facility.
With the signing of this LOC Agreement, Exim Bank has now in place 264 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.98 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.