EXIM Bank to provide $250 million credit to African countries

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Export -Import Bank of India (EXIM Bank)  will provide a $250 million loan  to the African countries to buy covid vaccine from India . 

Out of this $100 million loan will be provided to Africa Finance Corporation  and $150 million loan will be provided to the African  EXIM Bank. 

EXIM BANK 

Exim Bank was established by the Government of India, under the Export-Import Bank of India Act, 1981.

Function of the Bank 

•  It provides loans to foreign company, government etc to buy goods and services from India 
• It provides loans to the Indian exporter  companies to import technology and products so as to make goods and sell them to foreign countries , boosting exports from India.

Headquarters of EXIM Bank : Mumbai