BAKU, Azerbaijan, Dec. 15
By Klavdiya Romakayeva - Trend:
Export-Import Bank of India (Exim Bank) has extended a line of credit (LOC) of $448 million to the government of Uzbekistan for financing projects in the Roads & Transport, Water and Technology & Communication sectors in Uzbekistan, Trend reports citing Exim Bank.
The LOC Agreement to this effect was signed between Deputy Prime Minister, Minister of Investments and Foreign Trade, Sardor Umurzakov, and General Manager of Exim Bank Nirmit Ved.
With the signing of this LOC Agreement, Exim Bank has now in place 266 Lines of Credit, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of around $26.59 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank's LOCs enable the demonstration of Indian expertise and project execution capabilities in emerging markets.
Earlier it was reported that the President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of India Narendra Modi held an online summit and agreed to increase trade turnover to $1 billion per year.
During the meeting, a number of documents were signed in the field of economics, innovation, financial and technical assistance, customs and technical regulation of trade, as well as training and joint scientific research.
---
Follow the author on Twitter: @romakayeva