Exim Bank says LOCs exports Indian expertise
The Indian Government has extended Line of Credit [LOC] of US$20.506 million for financing construction and up-gradation of Regional Hospitals in Kankan and Nzerekore in Guinea.
The LOC Agreement was signed in New Delhi on 29 September 2020 through exchange between Saroj Khuntia, General Manager, Exim Bank, and Fatoumata Balde, Ambassador, Embassy of the Republic of Guinea in New Delhi.
Export-Import Bank of India (Exim Bank), on behalf of the Government of India, is managing the LOC.
With the signing of this LOC, Exim Bank has extended four Lines of Credit to the Guinea Government on behalf of the Indian Government of India, taking the total value of LOCs extended to US$245.73 million.
Projects covered under the LOCs extended to Guinea include construction and establishment of 130-bed Mother & Child Hospitals, Solar Projects and strengthening the Drinking Water Supply of Grand Conakry.
With the signing of this LOC Agreement, Exim Bank has now in place 265 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS. These are credit commitments of around US$26 billion, available for financing exports from India.
Besides promoting India’s exports, Exim Bank said the LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. #credit #projects #development #financing /fiinews.com
