Which Bank/organization has announced that it will provide a USD 500 million credit facility to Economic Community of West African States (ECOWAS) to fund various development projects in western-south Africa?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Export-Import Bank
B	National Bank for Agriculture and Rural Development
C	Small Industries Development Bank of India
D	National Housing Bank

Explanation:

Detailed explanation-1: -The Export-Import Bank (Exim Bank) today said it will provide a USD 500 million credit facility to ECOWAS Bank for Investment and Development (EBID) to fund various development projects in the western-south Africa.

Detailed explanation-2: -The Export Import Bank (EXIM) of India and the Government of Sri Lanka on Wednesday signed a $500-million Line of Credit agreement aimed at helping Sri Lanka cope with its current fuel shortages, amid one of the worst economic meltdowns facing the island nation.

Detailed explanation-3: -Afreximbank Group’s Total Assets grew by 13.4% from $19.3 billion as at 31 December 2020 to about $22 billion as at 31 December 2021, primarily due to the 11.5% growth in net loans and advances and a 12.1% increase in cash and cash equivalents to $18.2 billion and $3.1 billion respectively.

Detailed explanation-4: -Exim Bank serves as a growth engine for industries and SMEs through a wide range of products and services. This includes import of technology and export product development, export production, export marketing, pre-shipment and post-shipment and overseas investment.

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