Exim Bank extends line of credit worth $448 million to Uzbekistan for infrastructure projects

The Export-Import Bank of India also known as the Exim Bank announced on December 12 2020, Saturday that it has extended a USD 448-million line of credit (LOC) to Uzbekistan which will be utilised for various infrastructure projects being built there. The LOC has been extended by the Export-Import bank on behalf of the Indian government, Exim Bank clarified in a statement.

“With the signing of this LOC Agreement, Exim Bank has now in place 266 LOCs, covering 62 countries in Africa, Asia, Latin America, Commonwealth of the Independent States and Oceania, with credit commitments of around USD 26.59 billion, available for financing exports from India,” it added.

The Line of Credit which is worth USD 448 million to Uzbekistan has been extended for financing various infrastructure projects. The various sectors whose projects will be financed include the roads and transport sector, water and technology sector and communication sectors in Uzbekistan.

The Export-Import Bank of India aka Exim Bank had extended its first LOC USD 200 million for housing and social infrastructure projects to Government of the Republic of Uzbekistan on behalf of the Government of India on January 18, 2019, during the inaugural day of the Vibrant Gujarat Summit 2019, and was signed between Mr Sukhrob Rustamovich Kholmuradov, Hon’ble Deputy Prime Minister of the Republic of Uzbekistan and Mr David Rasquinha, Managing Director of Exim Bank.

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