BCI and the Mozambique-Italy Chamber of Commerce strengthen partnership
India grants credit line to purchase railway equipment
12:56 CAT | 07 Jan 2019
O País
The Exports and Imports Bank of India (ExIm) has signed an agreement with Mozambique opening up a US$95 million credit line for the purchase of railway equipment.
The credit line will allow the Mozambican government to acquire rolling stock such as locomotives, passenger cars and railcars of various types.
This agreement represents the thirteenth financing granted by the Indian bank on behalf of the country’s government to its counterpart in Mozambique, whose borrowing from India currently amounts to US$734.44 million.
According to Macauhub, India’s lending to Mozambique is broadly aimed at financing projects such as rural electrification, raising agricultural productivity, building solar panels, rebuilding roads and building 900 houses.
Source: O Pais
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