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Exim Bank Extends Loan Support to Africa Finance Corp

Published on September 03, 2021
Current Context: The Exim Bank has extended a line of credit (LoC) support from the side of GOI to the Africa Finance Corporation (AFC), which is an infrastructure solutions provider in the African continent.
Exim Bank Extends Loan Support to Africa Finance Corp
  • The Exim Bank has provided an LoC of USD 100 million (Rs 730 crore) to the Africa Finance Corporation (AFC).
  • The loan support was provided for the development of infrastructure in the Africa continent.
  • This will also help to uplift the economic status of the region which has severely suffered due to pandemic COVID-19.
  • The total tenure of the soft loan is 10 years.
  • Static part: 
    • HQ of Exim Bank: Mumbai

Question: 

Q.1 Which financial entity extended a USD 100 million loan to Africa Finance Corporation (AFC) to conduct infra development activities in the continent?
a. New Development Bank
b. Exim Bank
c. Asian Development Bank
d. European Bank for Reconstruction and Development
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