Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 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 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 3 (Three) 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 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 USD 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.
Sachin Gawade
