Export Import Bank of India (Exim Bank) will provide line of credit worth USD 245 million to Ghana and Mozambique for agricultural and railway projects.
Exim Bank supported line of credit of USD 150 million to Ghana and USD 95 million to Mazambique, the Reserve Bank of India said in two separate notifications Thursday.
The USD 150 million for Ghana will be used for financing strengthening of agriculture mechanisation services centres, while line of credit for Mozambique will be used for financing procurement of railway rolling stock including locomotives, coaches and wagons, the RBI said.
The agreements are effective from June 3, 2019. Under the LoC, the terminal utilisation period is 60 months after the scheduled completion date of the project, the apex bank said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app