India’s Exim Bank grants credit line to Angola

4 December 2006

Mumbai, India, 04 Dec – – India’s Export Import Bank (Exim Bank) has concluded an agreement with the Angolan government to grant a US$10 million credit line, the bank said in Mumbai Saturday.

Daily newspaper, The Hindu, which reported the bank’s statement said that the credit line was to finance the export of “SAME” brand tractors, which are manufactured by the SAME Deutze-Fahr India company.

The agreement also covers the sale of spare parts and services by India and which can be exported under the terms of the Foreign trade policy of the Indian government.

This year, the Exim Bank granted Mozambique a US$20 million credit line to provide electricity to Gaza province in Southern Mozambique. (macauhub)