Export-Import Bank of India [Exim
Bank] has, on behalf of the Government of India, extended a Line of Credit
[LOC] of USD 45.27 million to the Government of the Democratic Socialist
Republic of Sri Lanka [Government of Sri Lanka] for financing rehabilitation of
Kankesanthurai Harbour, says a release.
The LOC Agreement to this effect was signed in
New Delhi on Wednesday, January 10, 2018, by Mr. David Rasquinha, Managing
Director, on behalf of Exim Bank and Dr. R. H. S. Samaratunga, Secretary,
Ministry of Finance & Mass Media, on behalf of the Government of Sri Lanka.
With the signing of the above LOC
Agreement for USD 45.27 million, Exim Bank, till date, has extended seven Lines
of Credit to the Government of Sri Lanka, on behalf of the Government of India,
taking the total value of LOCs extended to USD 1,429.43 million. Projects
covered under the LOCs extended to the Government of Sri Lanka includes supply
of equipment, upgradation and laying of railway tracks, supply and installation
of signaling and communication equipment, supply of transport vehicles and
equipment, and procurement of railway rolling stocks.
With the signing of this LOC
Agreement, Exim Bank has now in place 223 Lines of Credit, covering 62
countries in Africa, Asia, Latin America and the CIS, with credit commitments
of around USD 21 billion, available for financing exports from India. Besides
promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian
expertise and project execution capabilities in emerging markets.