Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended Line of Credit [LOC] of USD 7.35 million to the Government of the Republic of Nicaragua for the purpose of replacement and supply of equipment of the High Technology Centre of Hospital Antonio Lenin Fonseca at Managua, Nicaragua. The project under the LOC shall facilitate improving the quality of life of patients and provide a modern hospital infrastructure in Nicaragua. The project would enable the export of medical equipment from India.
The LOC Agreement to this effect was signed on February 18, 2021, through an exchange between Mr. Jose Adrian Chavarria Montenegro, Vice-Minster General of the Ministry of Finance and Public Credit, Government of Republic of Nicaragua, and Mr. Nirmit Ved, General Manager, Exim Bank.
With the signing of the above LOC Agreement, Exim Bank, to date, has extended 5 (Five) Lines of Credit to the Government of the Republic of Nicaragua, on behalf of the Government of India, taking the total value of LOCs extended to USD 94.98 million. The LOCs extended to the Government of the Republic of Nicaragua cover projects in the Power and Healthcare sectors in Nicaragua.
With the signing of this LOC Agreement, Exim Bank has now in place 269 Lines of Credit, covering 62 countries in Africa, Asia, Latin America, and the CIS, with credit commitments of around USD 26.64 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LOCs enable the demonstration of Indian expertise and project execution capabilities in emerging markets.
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