Exim Bank extends $87 million line of credit to Zimbabwe

NEW DELHI: The Export Import Bank of India ( Exim Bank) has extended a Line of Credit (LOC) of $87 million to Zimbabwe for renovation and up-gradation of Bulawayo Thermal Power Plant.

The LOC agreement was signed here yesterday by Zimbabwe Minister of Finance and Economic Development Patrick Anthony and CMD and MD of Exim Bank Yaduvendra Mathur, the bank said in a statement.

With this, Exim Bank has extended two LOCs to Zimbabwe, taking the total value of LOCs to $115.60 million, it added.

Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.