Exim Bank extends LoC by $ 108.28 million to Swaziland
New Delhi, June 15 (IANS) Export-Import Bank of India (Exim Bank) has, on behalf of the Indian government, granted a line of credit (LoC) of $ 108.28 million to the government of the Kingdom of Eswatini (Swaziland ) for construction of a new Parliament building in Eswatini.
The LoC agreement to this effect was signed by exchange between Nirmit Ved, Managing Director, Exim Bank, and Neal H. Rijkenberg, Minister of Finance, Government of the Kingdom of Eswatini (Swaziland).
With the signing of the agreement, Exim Bank, to date, has granted four (four) lines of credit to the Government of the Kingdom of Eswatini (Swaziland), on behalf of the Government of India, carrying the total value letters of credit granted in the amount of $ 176.58 million. Extended Letters of Credit to the Government of the Kingdom of Eswatini (Swaziland) cover projects in sectors such as information technology, disaster management, agriculture and construction.
With the signing of this LoC agreement, Exim Bank now has 272 lines of credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of approximately 26.84 billion dollars, available to finance India’s exports. In addition to promoting Indian exports, Exim Bank’s LoCs demonstrate Indian expertise and project execution capabilities in emerging markets.
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