February 6, 2014 1:45 PM

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India offers buyer's credit of $ 100mn to Namibia for infra projects

India has offered to provide buyer's credit of 100 million dollars to Namibia for infrastructure projects. The offer was made by Commerce and Industry Minister Anand Sharma during his recent visit to the country. Our correspondent reports, the buyer's credit is in addition to the 100 million dollars line of credit offered during the visit of the President of Namibia to India in 2009. Buyer's Credit is an unique programme of Exim Bank, under which the Bank facilitates Indian exports by way of extending credit facility to the overseas buyers for financing their imports from India. An official release issued in New Delhi today said, India fully support to Namibia in the priority sectors such as drugs and pharmaceuticals, small and medium industries, agriculture and infrastructure.

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