Credit for improving the quality of power supply

The Indian Government has extended US$250 million Line of Credit for Improving the Quality of Power Supply in Mozambique.

A Line of Credit Agreement was exchanged on 3 August 2020 between Saroj Khuntia, General Manager, Exim Bank and Adriano Isaias Ubisse, National Directorate of Treasury, Ministry of Economy and Finance, Mozambique.

With the latest US$250 million LOC, India has extended 14 Lines of Credit to Mozambique, taking the total value of LOCs to US$772.44 million.

Projects covered under the LOCs extended include 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.

In total, 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 US$25.98 billion, available for financing exports from India.

Besides promoting India‚Äôs exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. #exports #credit #projects #tenderes #markets /fiinews.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here