On December 12, 2020, Export-Import Bank of India (Exim Bank), on behalf of the Government of India, has extended a Line of Credit (LOC) of $448 million to the Government of Republic of Uzbekistan for financing the latter’s various projects in the Roads & Transport, Water and Technology & Communication sectors.
- The agreement for the same was inked by Deputy Prime Minister & Minister of Investments and Foreign Trade, Sardor Umurzakov, Uzbekistan and Nirmit Ved, General Manager, Exim Bank.
- With the signing of this LOC Agreement, Exim Bank has now in place 266 Lines of Credit, covering 62 countries in Africa, Asia, Latin America, Commonwealth of Independent States (CIS) and the Oceania, with credit commitments of around $26.59 billion, available for financing exports from India.
Recent Related News:
i.On 16th November 2020, Dr. Adam Yao Liu, a political scientist trained at Stanford University, won the Export-Import Bank of India’s BRICS Economic Research Award 2020 for his for his Ph.D. dissertation, “Building Markets within Authoritarian Institutions: The Political Economy of Banking Development in China.”
ii.The Ministry of Finance has provided Rs 3,000 crore to EXIM Bank for promotion of project exports through Lines of Credit (LoC) under the Indian Development and Economic Assistance Scheme (IDEAS) Scheme.
About Export-Import Bank of India (Exim Bank):
Managing Director (MD)– David Rasquinha
Headquarter– Mumbai, Maharashtra
Regulated By- Reserve Bank of India