Exim Bank extends $500m line of credit to Sri Lanka for purchase of petroleum products
The Export-Import Bank of India (Exim Bank) announced Thursday that it has granted a line of credit of 500 million dollars to Sri Lanka to finance the purchase of petroleum products.
With the signing of the LOC agreement for $500 million, Exim Bank, to date, has extended 10 Lines of Credit to the Sri Lankan Government on behalf of the Government of India, bringing the total value of LOCs extended to 2.18 billion, a statement mentioned.
Projects covered by the extended lines of credit in Sri Lanka include supply of petroleum products, railway projects, defense and infrastructure projects.
Exim Bank has now established 276 lines of credit, covering 61 countries in Africa, Asia, Latin America and the Commonwealth of Independent States (CIS), with credit commitments of approximately 27.84 billion of dollars available to finance India’s exports.
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