Exim Bank extends $250 million line of credit to Mozambique

The agreement to this effect was signed on August 3

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Export-Import Bank of India (Exim Bank) on Friday said it has extended a $250-million (about ₹1,870 crore) line of credit (LOC) to Mozambique for improving power supply quality in the country.

The agreement to this effect was signed on August 3 through exchange between Saroj Khuntia, general manager, Exim Bank, and Adriano Isaias Ubisse, National Directorate of Treasury, Ministry of Economy and Finance, Mozambique.

With the signing of this LOC agreement, Exim Bank till date has extended 14 LOCs to Mozambique, taking their total value to $772.44 million.

Exim Bank now has in place 264 LOCs, covering 62 countries across regions including Africa, Asia, and Latin America, with credit commitments of around $25.98 billion, available for financing exports from India.