Export-Import Bank of India (Exim Bank) has extended a credit facility of USD 500 million to Tanzania for water supply projects in the country. Exim Bank signed an agreement in May 2018, with the Tanzania government for making available a Government of India-supported line of credit of USD 500 million for the purpose of financing water supply schemes.
Under this agreement, of the total credit by Exim Bank, goods and services of the value of at least 75% of the contract price shall be supplied by the seller from India.
Source: News on AIR
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Tanzania Capital: Dodoma, Currency: Tanzanian shilling.