Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 100 million to the Government of the Republic of Mauritius for the purpose of financing procurement of defense items from India.
The LOC Agreement to this effect was signed on February 19, 2021, through exchange between H.E. Mr. Renganaden Padayachy, Hon’ble Minister of Finance, Economic Planning and Development, the Government of Republic of Mauritius and Mr. Gaurav Singh Bhandari, Chief General Manager, Exim Bank.
With the signing of the above LOC Agreement, Exim Bank, till date, has extended 6 (Six) Lines of Credit to the Government of the Republic of Mauritius, on behalf of the Government of India, taking the total value of LOCs extended to USD 764.80 million. The LOCs extended to the Government of the Republic of Mauritius cover projects in sectors including Defense, Connectivity and Infrastructure sectors such as Metro Express Limited, Social Housing, etc.
With the signing of this LOC Agreement, Exim Bank has now in place 269 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26.64 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.
Sachin Gawade