To counter China’s Belt and Road initiative, India continues to develop cooperation partnership based on concessional lines of credit. The latest in place is the soft loan agreement was signed between Nirmit Ved, General Manager, Exim Bank, and Neal H Rijkenberg, Finance Minister, Government of the Kingdom of Eswatini (Swaziland).
The Government has extended a soft loan of USD 108.28 million to Eswatini (Swaziland) for construction of their new Parliament building, Exim Bank said on Tuesday.
With the signing of this line of credit agreement, Exim Bank has now in place 272 Lines of Credit (LoC), covering 62 countries in Africa, Asia, Latin America, and the CIS, with credit commitments of around USD 26.84 billion, available for financing exports from India, Exim Bank said in a release.
The soft loan agreement was signed between Nirmit Ved, General Manager, Exim Bank, and Neal H Rijkenberg, Finance Minister, Government of the Kingdom of Eswatini (Swaziland).
The LOCs extended to the Eswatini cover projects in sectors including information technology, disaster management, agriculture, and construction, it said.
