Four LOCs support Nicaragua projects
The Indian Government is providing US$20.1 million for the reconstruction of Aldo Chavarria Hospital in Nicaragua.
Export-Import Bank of India (Exim Bank), on behalf of the Government, signed a Line of Credit (LOC) agreement on 12 June 2020
With the signing of the latest LOC Agreement, Exim Bank, till date, has extended four Lines of Credit to Nicaragua, taking the total to US$87.63 million.
Projects covered under the LOCs include the supply of equipment for building two substations, construction of transmission lines, building a new substation, expansion of the existing substations and reconstruction of a hospital.
With the signing of this LOC Agreement, Exim Bank has now in place 261 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around US$25.7 billion, available for financing exports from India.
Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. fiinews.com
