Exim Bank today said that it has extended a Line of Credit (LoC) of $10-million to Uzbekistan's National Bank for Foreign Economic Activity.
The LoC will be provided by Exim to the Uzbekistan bank for financing India's exports to that country, a press release issued here stated.
The LoC will facilitate and boost India's exports to Uzbekistan, the release said.
Exim Bank will reimburse 90 per cent of contract value to Indian exporters upfront upon the shipment of goods.
India's export to Uzbekistan in FY 08 amounted to $79-million registering an increase of 37 per cent over the previous year.
Main products exported from India to Uzbekistan are drugs, pharmaceuticals and fine chemicals, machinery and instruments and manufactures of metals.
Exim Bank has now in place 100 LoCs, covering 91 countries in Africa, Asia, Latin America, Europe and the Commonwealth of Independent States (CIS) with credit commitments amounting to $3.28-billion, available for utilisation for financing exports from India.
