Exim Bank extends USD 500 mn Line of Credit to Sri Lanka
- The Export-Import Bank of India (Exim Bank) has extended a line of credit (LoC) of USD 500 million to Sri Lanka on behalf of the Government of India on February 03, 2022.
- The fund will be used by the Island nation for the purchase of petroleum products.
- With the signing of this new LOC agreement, the total LOC extended by Exim Bank to Sri Lanka till date has reached 10, taking the total value of LOCs extended to USD 2.18 billion.
Points to Remember:
- How much amount of LOC has been extended by EXIM bank to Sri lanka for financing the purchase of petroleum products?
- The Indian govt has extended USD 500mn LOC to Sri Lanka for financing the purchase of petroleum products through which institution? EXIM Bank
- EXIM Bank headquarter – Mumbai
Source: Economic Times