Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 20.506 million for the purpose of financing the project for construction and up-gradation of Regional Hospitals in Kankan and Nzerekore, to the Government of the Republic of Guinea.
The LOC Agreement to this effect was signed in New Delhi on Tuesday, September 29, 2020, through exchange between Mr. Saroj Khuntia, General Manager, Exim Bank, and H.E. Ms. Fatoumata Balde, Ambassador, Embassy of the Republic of Guinea, New Delhi, India.
With the signing of the above LOC Agreement for USD 20.506 million, Exim Bank, to date, has extended 4 (four) Lines of Credit to the Government of the Republic of Guinea, on behalf of the Government of India, taking the total value of LOCs extended to USD 245.73 million. Projects covered under the LOCs extended to the Government of the Republic of Guinea include the Construction and Establishment of 130 bedded 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, with credit commitments of around USD 26 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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