External Commercial Borrowings (ECB) are defined to include
commercial bank loans,
buyer’s credit,
supplier’s credit,
securitised instruments such as floating rate notes, fixed rate bonds etc.,
credit from official export credit agencies,
commercial borrowings from the private sector window of multilateral financial institutions such as IFC, ADB, AFIC, CDC etc.
and Investment by Foreign Institutional Investors (FIIs) in dedicated debt funds