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India extends $75 mn LoC for solar parks in Cuba

India extends $75 mn LoC for solar parks in Cuba
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Mumbai: India has extended a line of credit of $75 million (over Rs 500 crore) to Cuba for financing solar parks. An agreement signed between Export-Import Bank of India (Exim Bank) and Banco Exterior De Cuba in July last year came into effect from December 12, the RBI said in a statement on Thursday. Under the LoC, the terminal utilisation period is 60 months after the scheduled completion date of the project.

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