Exim Bank extends $500 mn LOC to Sri Lanka for buying petroleum products
With the signing of the LOC agreement for $500 million, Exim Bank, to date, has extended 10 lines of credit to the Sri Lankan government on behalf of the Indian government, taking the total value of LOCs extended to $2.18 billion, a release said.
- Feb 3, 2022,
- Updated Feb 3, 2022 2:59 PM IST
Export-Import Bank of India (Exim Bank) Thursday said it has extended a line of credit of $500 million to Sri Lanka for financing the purchase of petroleum products.
With the signing of the LOC agreement for $500 million, Exim Bank, to date, has extended 10 lines of credit to the Sri Lankan government on behalf of the Indian government, taking the total value of LOCs extended to $2.18 billion, a release said.
Projects covered under the LOCs extended to Sri Lanka includes the supply of petroleum products, railway projects, defence and infrastructure projects.
Exim Bank has now in place 276 LOCs, covering 61 countries in Africa, Asia, Latin America and the Commonwealth of Independent States (CIS), with credit commitments of around $27.84 billion, available for financing exports from India.
Export-Import Bank of India (Exim Bank) Thursday said it has extended a line of credit of $500 million to Sri Lanka for financing the purchase of petroleum products.
With the signing of the LOC agreement for $500 million, Exim Bank, to date, has extended 10 lines of credit to the Sri Lankan government on behalf of the Indian government, taking the total value of LOCs extended to $2.18 billion, a release said.
Projects covered under the LOCs extended to Sri Lanka includes the supply of petroleum products, railway projects, defence and infrastructure projects.
Exim Bank has now in place 276 LOCs, covering 61 countries in Africa, Asia, Latin America and the Commonwealth of Independent States (CIS), with credit commitments of around $27.84 billion, available for financing exports from India.