EXIM Bank has extended a line of credit (LOC) of USD 500 million to Sri Lanka for financing the purchase of petroleum products.
- EXIM Bank Established under Export-Import Bank of India Act (1981).
- It is a wholly owned Govt. of India entity.
- It extends LOCS to overseas financial institutions, regional development banks, sovereign governments and overseas entities, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms.