Exim Bank Extends $216 Million Credit Line to Malawi Govt
Exim Bank Extends $216 Million Credit Line to Malawi Govt

Exim Bank Extends $216 Million Credit Line to Malawi Govt

  • Export-Import Bank of India (Exim Bank) on Friday said it has extended a line of credit (LOC) worth $215.68 million to the Malawi government for drinking water supply schemes and other development projects.
  • With the signing of this agreement, Exim Bank, so far, has extended five LOCs to Malawi, on behalf of the Indian government, taking the total value of LOCs extended to $395.68 million, a release said.
  • Projects covered under the LOCs extended to Malawi includes supply of irrigation network, tobacco threshing plant, cotton processing facilities, green belt initiative, sugar processing equipment, fuel storage facility and construction of a new water supply system from Likhubula river in Mulanje to Blantyre.
  • With the signing of this LOC, Exim Bank has now in place 260 LOCs, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around $25.68 billion, available for financing exports from India.

About EXIM Bank-

Export-Import Bank of India is the premier export finance Institution of the country that seeks to build value by integrating foreign trade and investment with economic rise of india.The Bank has been guided by expertise at the board level, by senior policy makers, expert bankers, leading players in industry and international trade as well as professionals in exports, imports or financing.

  • Founded-1 January 1982
  • Headquarters – Mumbai
  • Chief Executive Officer (CEO)- David Rasquinha

About Malwai-

Malawi, a landlocked country in southeastern Africa, is defined by its topography of highlands split by the Great Rift Valley and enormous Lake Malawi. The lake’s southern end falls within Lake Malawi National Park – sheltering diverse wildlife from colorful fish to baboons – and its clear waters are popular for diving and boating. Peninsular Cape Maclear is known for its beach resorts.

  • Capital– Lilongwe
  • Currency– Malawian kwacha
  • President– Peter Mutharika

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