Search Result for : Line Of Credit Loc

The Dollar Business Bureau The Export Import Bank of India (EXIM Bank), the premier export finance institution in the country, has raised $10 billion via issuance of 10-year dollar bonds on London Stock Exchange (LSE). The bonds were oversubscribed by almost two times. The EXIM Bank will use the proceeds from bonds for supporting Indian project exports, foreign investments through long-term credit and its portfolio of lines of credit. “The notes achieved the tightest ever spread over US Treasury for an Indian entity for a 10-year issuance,” said LSE in a statement. The 10-year bond has an annual yield of 3.897% and protected high investor support from all over the world, it said. EXIM Bank Managing Director David Rasquinha said that the Bank is a ...

The Dollar Business Bureau Bangladesh on Wednesday signed an agreement for the third line of credit (LoC) with India for around $4.5 billion for its social and infrastructure sector development. The pact was inked by David Rasquinha, Managing Director, Export-Import Bank of India (Exim) on behalf of India while Kazi Shofiqul Azam, Economic Relations Division Secretary signed for Bangladesh, in the presence of Arun Jaitley, Finance Minister of India and his Bangladeshi counterpart A M Abdul Muhith in Dhaka. The new LoC will be used by Bangladesh for funding 17 key projects in the country in several sectors including roads, ports, shipping railroads and electricity. Like earlier LoC pacts, the new loan is at an interest rate of ...

The Dollar Business Bureau  A MoU (Memorandum of Understanding) that was signed between India and Bangladesh during a recent diplomatic visit made by Bangladeshi PM Sheikh Hasina enabled India to extend a $4.5 billion Line of Credit (LoC) to its eastern neighbour.  This MoU, on Wednesday, received a final nod from the Union Cabinet chaired by Narendra Modi. The Cabinet’s ex-post facto approval has officially sealed India’s financial participation in the infrastructural development of Bangladesh, which will also enable India’s connectivity with its North Eastern neighbours.  The projects to be financed by this LoC will also create new business opportunities for Indian companies in Bangladesh. The MoU has listed out projects which will be undertaken under this agreement.  Providing for the strengthening of its ...

The Dollar Business Bureau  Indian Railways will export to Sri Lanka train sets and modern locomotives worth around Rs.680 crore, in the largest shipment order for the Railways. Rail India Technical and Economic Service (RITES), the export arm of Railways, has got its biggest order from the Sri Lankan Railways for exporting 6 diesel multiple units (DMU) train sets and 10 broad gauge diesel locomotives. The separate locomotive is not required in DMU train sets as the engines are integrated into one or more than one of its coaches. All the train sets and locomotives would be installed with the cutting-edge technology and are manufactured in Chennai and Varanasi, according to a senior official from Railway Ministry. The supply contract ...

PTI India on Tuesday announced a grant of $3 million for medicines and purchase of medical equipment as well as a Line of Credit of $81 million for a road project in Rwanda as the two countries decided to collaborate closely to counter terrorism while stressing the need to isolate countries which support cross-border terrorism. After wide-ranging talks, Prime Minister Narendra Modi and Rwandan President Paul Kagame declared elevation of bilateral ties to "strategic partnership" while noting India's increasing engagements as a development partner of Africa. Terming terrorism as the single biggest global threat and recognising the need to isolate countries which support cross-border terrorism, the two sides also decided to collaborate closely on counter-terrorism including blocking financing of terrorist activities, removing ...

The Dollar Business Bureau  Ashok Leyland, the leading Indian commercial vehicle manufacturer, on Thursday said it has got an order worth Rs.1,140 crore ($170 million) from Tanzania for supplying vehicles, gensets, spares, etc.  The order also consists of supplying equipment for workshop development, training modules and related equipment to be equipped on ambulances, the company said in a filing with BSE.  “The new order from Tanzania, valued at $170mn, fast on the back of the $200mn by Cote D'Ivore also reiterates the market's acceptance of Ashok Leyland's products in the African region,” said Vinod Dasari, Managing Director of Ashok Leyland.   He further said that export to major overseas markets is a vital part of the company's strategic intent to globalize its products and de-risk ...

The Dollar Business Bureau India to provide $45 million Line of Credit to Kenya to help in developing a textile unit and other small industries, the leaders of two nations said on Monday. Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta have signed seven trade agreements.  The two agreements, part of the seven deals signed, were a Line of Credit pact for $15 million to Kenya’s Industrial Development Bank Ltd (IDB) for the development of small scale and medium enterprises (SMEs) and an agreement of Line of Credit for $29.95 million to revive the Rift Valley Textiles (Rivatex) factory in Kenya. “The ties between the two countries are rich and long-standing. The multi-faceted partnership for development is a major pillar of our bilateral ties. ...

 The Dollar Business Bureau India will be providing US$ 1 billion ‘Line of Credit’ to Mongolia to develop its institutions, infrastructure and human resources. The above statement was made by Prime Minister (PM) Narendra Modi, while addressing the Mongolian Parliament on May 17, 2015, said a PIB release. The PM also laid the foundation stone for the expansion and upgrading of the Atal Bihari Vajpayee Centre for Excellence in Information and Communication Technology. Stating that under India's training programme, Mongolia is one of our largest partners, the PM said “We will increase the ITEC training slots for Mongolia from 150 to 200 and establish an India-Mongolia Joint School.” Modi also said that India and Mongolia have agreed that India will ...