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EXIM Bank Extended LoC to Sri Lanka

Published on February 05, 2022
Current Context: The Export-Import Bank of India (Exim Bank) has extended a line of credit support to Sri Lanka.
EXIM Bank Extended LoC to Sri Lanka
  • The EXIM Bank on behalf of GoI has extended $500 million to the island nation.
  • The funds will be used to purchase petroleum products.
  • Now, the total LoC extended by Exim Bank to Sri Lanka to date has reached 10, and the total value is USD 2.18 billion.
  • Static Part: 
    • HQ of EXIM Bank: Mumbai
    • Capital of Sri Lanka: Colombo, Sri Jayawardenepura Kotte
    • Currency of Sri Lanka: Sri Lankan rupee

Question: 

Q.1 To which nation has EXIM Bank extended LoC of $500 million to purchase petroleum products?
a. Mauritius
b. Indonesia
c. Malaysia
d. Sri Lanka
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