The Export-Import Bank of India (Exim Bank) has extended Line of Credit (LoC) of $25 million to Syria, for financing export of goods and services from India.


</p><tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>This is the first-ever LoC extended by Exim Bank to Syria and the first-ever LoC to the Middle-Eastern region, a release issued here today stated.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>Exim Bank would reimburse 90 per cent of contract value to Indian exporters, upfront upon the shipment of goods.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>India's exports to Syria in 2006-07 amounted to $408 million, registering an increase of 47.5 per cent over the previous year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>Main products exported from India to Syria are machinery and instruments, yarn fabrics, staple fibre, pharmaceutical products and non-ferrous metals.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
</p><p class='TableClas'>Exim Bank now has 94 LoC, covering 90 countries in Africa, Asia, Latin America, Europe and the CIS with credit commitments over $3 billion, available for utilisation for financing exports from India. </P></p><p class='TableClas'></p></table>


Exim Bank extends $25 mn Line of Credit to Syria

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