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Export-Import Bank of India has extended a $20 million line of credit to Mozambique for helping the country to improve its rice, wheat and maize output.
The line of credit agreement was signed by Mr. T.C.A. Ranganathan, Chairman and Managing Director, Exim Bank, and Dr Venancio Massingue, Minister of Science and Technology, Mozambique, recently in New Delhi, according to a press release issued by Exim Bank.
This, the seventh line of credit by Exim Bank to Mozambique, takes the total value of credit extended to $160 million. These lines of credit have facilitated export of electricity equipment, water drilling machinery, agro-inputs, irrigation systems, vegetable oil refining plants, oil storage tanks, water drilling technology and associated equipment, along with funding power projects in the provinces of Inhambane, Gaza, Zambezia, Nampula, Cabo Delgado, Manica, and Niassa, in Mozambique, said the press release .
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