Mumbai, June 25, 2018 : Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended two Lines of Credit [LOC] aggregating USD 31 million, comprising (a) LOC of USD 27.50 million for up-gradation of Transmission Network Infrastructure, and (b) LOC of USD 3.50 million for the servicing and maintenance of 3 (three) Chetak Helicopters, to the Government of Republic of Suriname. The LOC Agreements to this effect were exchanged in presence of the President of India, His Excellency Mr. Ram Nath Kovind and the President of the Republic of Suriname, His Excellency Mr. Desiré Delano Bouterse, in Paramaribo, Suriname on Wednesday, June 20, 2018, between Ms. Meena Verma, General Manager, Exim Bank and Mr. Stephen Tsang, Minister of Trade, Industry and Tourism of Government of Suriname.
With the signing of the above LOC Agreements for USD 31 million, Exim Bank, till date, has extended 7 (Seven) Lines of Credit to the Government of the Republic of Suriname, on behalf of the Government of India, taking the total value of LOCs extended to USD 78.05 million. Projects covered under the LOCs extended to the Government of Republic of Suriname include Power, Water Supply and supply of Helicopters.
With the signing of this LOC Agreement, Exim Bank has now in place 232 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 22.85 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.
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