Export-Import Bank of India extends a Line of Credit of USD 108.28 million to the Government of the Kingdom of Eswatini (Swaziland)

0
40

Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 108.28 million to the Government of the Kingdom of Eswatini (Swaziland) for construction of a new Parliament building in Eswatini.

The LOC Agreement to this effect was signed through exchange between Mr. Nirmit Ved, General Manager, Exim Bank, and H.E. Mr. Neal H Rijkenberg, Hon’ble Finance Minister, Government of the Kingdom of Eswatini (Swaziland).

With the signing of the above LOC Agreement, Exim Bank, till date, has extended four (Four) Lines of Credit to the Government of the Kingdom of Eswatini (Swaziland), on behalf of the Government of India, taking the total value of LOCs extended to USD 176.58 million. The LOCs extended to the Government of the Kingdom of Eswatini (Swaziland) cover projects in sectors including Information Technology, Disaster Management, Agriculture and Construction.

With the signing of this LOC Agreement, Exim Bank has now in place 272 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26.84 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.

READ  Paytm launches Postpaid Mini, expands its Buy Now Pay Later service Paytm Postpaid, to offer small-ticket instant loans to help users manage monthly expenses