CURRENT AFFAIRS

Detailed explanation-1: -The Export-Import Bank of India (Exim Bank) has entered into an agreement for USD 100 million line of credit to Mauritius for procurement of defence items from India. Under the agreement, India will export eligible goods and services to Mauritius.

Detailed explanation-2: -In February 2022, the Export Import (Exim) Bank of India signed a USD 500 million Line of Credit (LoC) agreement with the Government of Sri Lanka to support the country to overcome its current fuel shortages.

Detailed explanation-3: -Exim Bank was established by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies. Exim Bank serves as a growth engine for industries and SMEs through a wide range of products and services.

Detailed explanation-4: -EXIM BANK, on Behalf of The Government of India, Extends a Short-Term Line Of Credit Of USD 55 Million To The Government Of The Socialist Republic Of Sri Lanka.

Detailed explanation-5: -Export-Import Bank of India (Exim Bank) operates a comprehensive range of financing, advisory and support programmes to promote and facilitate India’s trade and investment with the CIS countries.