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

  • We must understand the need for P-notes to settle the debate

    The never-ending controversy surrounding participatory notes, aka P-notes, is back in focus following the latest revelation by the Supreme Court-appoi

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

Arun Kumar Jain

Managing decisions & bias in 3EE

Leadership is about facing and resolving dilemmas, taking tough calls, ...

Kuruvilla Pandikattu SJ

To see the best in the other

When two people initially develop a loving relationship, the bond ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture