| Date: |
03-01-2013 |
| Subject: |
Exim Bank extends USD 19 mn line of credit to Senegal govt |
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Export-Import Bank of India (Exim Bank) extended a Line of Credit (LOC) of USD 19 million to the Government of Senegal for financing fisheries development project in Senegal.
Under the LOCs, Exim Bank reimburses 100% of contract value to the Indian exporter, upfront upon the shipment of goods/provision of services.
With the signing of this LOC agreement, Exim Bank has now in place 167 Lines of Credit, covering 74 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over USD 8.67 billion, available for financing exports from India.
Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India`s exports, its LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.
Source : myiris.com
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