Exim Bank extends $63 mn LOC to Senegal
19/09/2014 12:41
According to media reports, the Republic of Senegal has received a line of credit (LOC) of USD 62.95 million from the Export Import Bank of India (EXIM Bank).
The Exim Bank has extended the line of credit to the West African country for funding a rice self-sufficiency programme.
Lines of Credit are generally extended for bolstering a country’s exports. The Export Import Bank of India said that it reimburses the full contract value to the Indian exporter of the goods, upfront upon the shipment of the goods.
Following the extension of the latest LOC, the Exim Bank has now extended a total amount of USD 269.36 million through 12 LOC including those extended for agricultural machinery and equipment, buses and vans, medical equipments, equipments for rural electrification project, meat processing project, fisheries development project, IT training projects and Irrigation project, the bank said.
As of now, the Export Import Bank of India has extended 196 LOCs covering 75 countries with credit commitments of over USD 10.77 billion for the purpose of export financing
19/09/2014 12:41
According to media reports, the Republic of Senegal has received a line of credit (LOC) of USD 62.95 million from the Export Import Bank of India (EXIM Bank).
The Exim Bank has extended the line of credit to the West African country for funding a rice self-sufficiency programme.
Lines of Credit are generally extended for bolstering a country’s exports. The Export Import Bank of India said that it reimburses the full contract value to the Indian exporter of the goods, upfront upon the shipment of the goods.
Following the extension of the latest LOC, the Exim Bank has now extended a total amount of USD 269.36 million through 12 LOC including those extended for agricultural machinery and equipment, buses and vans, medical equipments, equipments for rural electrification project, meat processing project, fisheries development project, IT training projects and Irrigation project, the bank said.
As of now, the Export Import Bank of India has extended 196 LOCs covering 75 countries with credit commitments of over USD 10.77 billion for the purpose of export financing
