Exim Bank extends $10 mn loan facility to Seychelles

  • The Export-Import Bank of India (Exim Bank) has extended $10 million worth of line of credit (LOC) to Seychelles for healthcare and procurement of goods and projects.
  • The LOC is the first tranche of the $50 million sanctioned by the Exim Bank to Seychelles. With this agreement for $10 million, Exim Bank, till date, has extended two LOCs to Seychelles, taking the total value to $28 million.
  • Earlier this week, the bank had extended two LOCs aggregating $31 million to the Republic of Suriname for upgradation of transmission line network and maintenance of Chetak helicopters.
  • Exim Bank has 233 LOCs in place at present, covering 62 countries. 

Important Questions: 

  1. Amount of LOC and total outlay to Seychelles?- $10 million and outlay of $ 50 million.
  2. AMount of LOC to Republic of Suriname?