Exim Bank extends line of credit of $10.49mn to Swaziland

New Delhi, March 3 : Export-Import Bank of India (Exim Bank), on behalf of the Central Government, has extended the Line of Credit (LOC) of $10.40 million to the government of the Kingdom of Eswatini (Swaziland) for construction of disaster recovery site.

The LOC agreement to this effect was signed through exchange between Nirmit Ved, General Manager, Exim Bank, and Neal H Rijkenberg, Finance Minister, Kingdom of Eswatini (Swaziland).

With the signing of the LOC Agreement, Exim Bank, till date, has extended three LOCs to the Kingdom of Eswatini (Swaziland), on behalf of the Government of India, taking the total value of LOCs extended to $68.30 million.

The LOCs extended to the Government of the Kingdom of Eswatini (Swaziland) cover projects in sectors including Information Technology, Disaster Management and Agriculture.

With the signing of this LOC Agreement, Exim Bank has now in place 270 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around $26.75 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.

Disclaimer: This story is auto-generated from IANS service.

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