Current Affairs - Banking - Discussion

The Export-Import Bank of India (Exim Bank) has signed a loan agreement of providing $124 million (over Rs 850 crore) to Papua New Guinea and Senegal governments to finance infrastructure and health care projects.Exim bank has extended Line of Credit(LoC) of USD 100 million to the Government of Independent State of Papua New Guinea for the purpose of financing infrastructure related projects($60 million is to go for Bayer-Madang road project and $40 million for Hoskins-Kimbe road project).Exim Bank has also extended Line of Credit of $24.50 million to the Government of the Republic of Senegal for the purpose of financing up-gradation and rehabilitation of Health Care System.