Exim Bank extends $89.9m credit line to Congo

Export-Import Bank of India (Exim Bank) today said it has extended a second line of credit (LoC) of $89.90 million to the Republic of Congo for developing transportation system.

Exim Bank had earlier extended $70 million credit to the Central African nation for financing rural electrification project, the state-run export finance agency said in a statement.

The latest LoC was signed by Exim Bank's newly appointed Chairman and Managing Director Yaduvendra Mathur and Félix Ngoma, Congolese Ambassador to India. Commerce Minister Anand Sharma was also present on the occasion.

Under the agreement, Exim Bank will reimburse 100 per cent of contract value to the Indian exporters, upfront upon the shipment of equipment and goods or provision of services.

Exim Bank has now in place 188 LoCs, covering 75 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over $10.30 billion available for financing exports from India.

EDITORIAL OF THE DAY

  • Public musn’t pay for domestic servants for our diplomats

    Nothing seems to have changed in the year and half since the fur that flew thick and fast over the case of diplomat Debjani Khobragade and her maid Sa

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture