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Exim Bank to Extend USD 300 Million Credit to Vietnam for Acquisition of Guard Boats and Patrol Vessels.

Banking & Finance | Dated: 17 Feb 2025

In February 2025, Mumbai (Maharashtra)-based Export-Import Bank of India (EXIM Bank) announced that it will provide a USD 300 million line of credit to Vietnam for procuring high-speed boats and offshore patrol vessels.

🎯 Key Highlights:

  • - In July 2024, EXIM Bank signed an agreement with the Government of the Socialist Republic of Vietnam (GO-VNM), wherein the Government of India (GoI) pledged a Line of Credit (LoC) of USD 180 million for the procurement of 4 Offshore Patrol Vessels (OPV).

💡 Other Important Facts:

  • (i) Additionally, the bank signed another agreement for a LoC of USD 120 million for the procurement of high-speed guard boats.
  • (ii) Both agreements are effective from January 20, 2025, with the last date for disbursement being 60 months after the scheduled completion of the project.

📚 Test Your Knowledge:

Recently How much credit will EXIM Bank provide to Vietnam for the acquisition of guard boats and patrol vessels?

Correct Answer: USD 300 Million

🚀 Quick Recap: