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The Exim Bank today said it has extended an additional $216.44 million in three lines of credit (LoC) to Mozambique, taking its total commitment to the East African nation to $639 million.
The latest fundings include a $19.72-million credit for extending a rural drinking water project, $147.72 million for a road rehabilitation project and $47 million to construct houses, it said in a statement.
The agreements were signed in Maputo, Mozambique by Exim Bank executive director David Rasquinha and Mozambique finance minister Manuel Chang, it said.
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With this the total commitments of Exim Bank, which works on behalf of the government, in Mozambique go up to $639.44 million through 12 LOCs, it said.
At the global level, it now has 172 LoCs with credit commitments of over $9.11 billion, it said.
Under the LoCs, Exim Bank reimburses 100% of contract value to domestic exporter, upfront upon the shipment of goods or provision of the services.
