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EXIM Bank to Offer $100 million Loan for COVID-19 Vaccines in FY22

Published on November 29, 2021
Current Context: The Export-Import Bank of India (Exim Bank) has given the commitment to grant loans for domestic manufacturers of Covid-19 vaccines.
EXIM Bank to Offer $100 million Loan for COVID-19 Vaccines in FY22
  • For this, the EXIM Bank has assured to grant loans worth $100 million.
  • The loan will be extended to about half a dozen drug makers in India during FY22.
  • The bank has also assured to extend a $250 million credit line to Africa.
  • The Exim Bank has set the target to achieve financing of $7 billion of project exports over the next five years through funds received from GOI.
  • Static Part: 
    • HQ of EXIM Bank: Mumbai
    • MD of EXIM Bank: Harsha Bangari

Question: 

Q.1 EXIM Bank committed to grant ____ loan for COVID-19Vaccines in FY22?
a. $70 million
b. $120 million
c. $50 million
d. $100 million

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