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Export-Import Bank of India (Exim Bank) has extended a Line of Credit (LOC) of $41.60 million to the Government of the Union of Comoros, for installation of an 18 MW power project in Moroni, the capital city of Comoros.
The LOC Agreement to this effect was signed in Delhi by David Rasquinha, executive director of Exim Bank of India Mohamed Ali Soilihi, vice president In charge of finance.
Under the LOCs, Exim Bank reimburses 100 per cent of contract value to the Indian exporter, upfront upon the shipment of goods/provision of services.
