India has extended Line of Credit (LoC) of 1 billion US dollars to which of the following country

2016

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

A	Bangladesh
B	Nepal
C	Bhutan
D	Mongolia

Explanation:

Detailed explanation-1: -India has emerged as the top lender to Sri Lanka in 2022, disbursing USD 377 million in loans to the island nation as it grappled with an unprecedented political crisis and economic turmoil, according to the Verite Research think-tank. The Asian Development Bank follows India with USD 360 million in loans.

Detailed explanation-2: -11 Lines of credit (LOC) have been extended to Sri Lanka by the Export-Import Bank of India in the last 15 years. Important sectors in which Projects have been executed/ are under execution, under these LOCs include Railway, transport, connectivity, defence, solar.

Detailed explanation-3: -Visiting Sri Lankan Finance Minister Basil Rajapaksa witnessed the signing of the agreement for the USD 1 billion line of credit being extended through the State Bank of India (SBI).

Detailed explanation-4: -The Line of Credit is not a grant but a ‘soft loan’ provided on concessional interest rates to developing countries, which has to be repaid by the borrowing government.

There is 1 question to complete.