CURRENT AFFAIRS

Detailed explanation-1: -Exim Bank of India has extended a line of credit of USD 100 million (Rs 730 crore) on behalf of the Indian government to the Africa Finance Corporation (AFC) to develop infrastructure in the continent and boost economic revival of countries in the region.

Detailed explanation-2: -Line of Credit: Under this scheme, the EXIM bank offers credit to foreign governments and their agencies and overseas financial institutions to finance import of eligible goods from India.

Detailed explanation-3: -MUMBAI : Export-Import Bank of India (Exim Bank) on Thursday said it has, on behalf of the government of India, extended a line of credit of $500 million to the government of the socialist republic of Sri Lanka for financing purchase of petroleum products. The agreement to this effect, was signed by S. R.

Detailed explanation-4: -Exim Bank extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms.