The agreement will be signed between the two banks during the forthcoming visit of Finance Minister Arun Jaitley, to Seoul, Korea during June 14-15 for the Annual Financial Bilateral Dialogue.
The export credit will be utilised through lending by EXIM Bank for priority sectors, including smart cities, railways, power generation and transmission etc., in India. The government has also taken measures for to convert the Ahmedabad-Vadodara highway into a six-lane one, with the Cabinet allowing the Indian Institute of Soil and Water Conservation to transfer 4.64 hectares of land in Gujarat to NHAI.
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