EXIM BANK, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS A LINE OF CREDIT OF USD 200 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF UZBEKISTAN

Jaipur, January 18, 2019:  Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India (GOI), extended a Line of Credit [LOC] OF USD 200 million for housing and social infrastructure projects to Government of the Republic of Uzbekistan. The LOC Agreement to this effect was signed between Mr. Sukhrob Rustamovich Kholmuradov, Hon’ble Deputy Prime Minister of the Republic of Uzbekistan and Mr. David Rasquinha, Managing Director of Exim Bank. The LOC agreement was exchanged between Mr. David Rasquinha, Managing Director of Exim Bank and Mr. Burnashev Shamil Rinatovich, Deputy Chairman, State Investment Committee of the Republic of Uzbekistan, on January 18, 2019, during the inaugural day of the Vibrant Gujarat Summit 2019.

This is the first LOC extended by Exim Bank to Uzbekistan. Major Export items from India to Uzbekistan include Pharmaceutical products, machinery & mechanical appliances, vehicles other than railway or tramway, coffee, tea, mate and spices, tanning or dyeing extracts, organic chemicals, and plastic and its articles.

With the signing of this LOC Agreement, Exim Bank has now in place 239 Lines of Credit, covering 63 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 23.25 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.