Under the direction of central government, Export-Import Bank of India (Exim Bank) extended a $50 million line of credit to the Government of Malawi.
 
 The extension would benefit the cotton processing facilities, green belt initiative and one village one product project in Malawi. The agreement was signed by Sriram Subramaniam, Deputy General Manager and Regional Head, Exim Bank, on behalf of Exim Bank and Dr Chrissie Chawanje Mughogho, High Commissioner of the Republic of Malawi to India, on behalf of the Malawi Government.
 
 Under this arrangement, Exim Bank will reimburse 100 per cent of the contract value to the Indian project exporter(s) upfront upon the shipment of goods and provision of services.
 
 Major export items from India to Malawi are pharmaceuticals, fine chemicals, machinery and instruments, transport equipment, plastic and linoleum products and manmade yarn fabrics.
 
 Exim Bank has now in place 134 lines of credit covering over 71 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over $6.49 billion, available for financing exports from India.