Banking

India Offers Line of Credit to Cuba for Solar Park

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India has offered a line of credit of USD 75 million to Cuba for the financing of solar parks. An agreement signed between the Export-Import Bank of India, Exim Bank, and Banco Exterior De Cuba in July last year came into effect on December 12, the RBI said in a statement on Thursday. Banco Exterior De Cuba is a state-owned banking agency in Cuba which deals with financing to companies in all sectors of the economy and operates under a general license issued by Banco Central de Cuba. “Exim Bank has entered into an agreement dated July 16, 2019 with Banco Exterior De Cuba, for making available to the latter, Government of India supported Line of Credit (LoC) of USD 75 million for the purpose…

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