Exim Bank Grants USD 500 mn loan to Tanzania for Water Projects

  • Export-Import Bank of India (Exim Bank) has extended a credit facility of USD 500 million (about Rs 3,542 crore) to Tanzania for water supply projects in the African country.
  • Under this agreement, of the total line of credit of USD 500 million by Exim Bank, goods and services of value of at least 75 per cent of the contract price shall be supplied by the seller from India, while the remaining 25 per cent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India.