Jan 15, 2019: Under an agreement recently signed in Maputo to acquire railway equipment, India’s Exports and Import Bank (EXIM) has opened a credit line of $95 million for Mozambique.

A spokesperson from EXIM Bank stated that this would enable the Mozambican government to acquire rolling stock, such as locomotives, passenger cars and wagons of various types.

The new agreement marks the thirteenth financing grant by the bank. The credit lines opened to Mozambique are aimed at financing projects such as rural electrification, increasing agricultural productivity, building solar panels, rebuilding roads and building 900 houses.

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