Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 7.29 million to the Government of the Cooperative Republic of Guyana for the purpose of procuring and installing Solar Home Lighting Systems for 30,000 homes in the Hinterland Communities.
The LOC Agreement to this effect was signed through exchange between Mr. Nirmit Ved, General Manager, Exim Bank and H.E. Dr. Ashni Singh, Senior Minister in the Office of the President with responsibility for Finance, Government of the Cooperative Republic of Guyana.
With the signing of the above LOC Agreement, Exim Bank, till date, has extended 9 (Nine) Lines of Credit to the Government of the Cooperative Republic of Guyana, on behalf of the Government of India, taking the total value of LOCs to USD 117.17 million. Projects covered under the LOCs extended to the Government of Cooperative Republic of Guyana include the construction of a Cricket stadium, supply and installation of traffic signalling systems, fixed and movable irrigation pumps, hospital, road linkage project, supply of a passenger-cargo ferry vessel, supply of high-capacity drainage pumps and upgradation of primary health care centres.
With the signing of this LOC Agreement, Exim Bank has now in place 277 Lines of Credit, covering 62 countries in Africa, Asia, Latin America Oceania and the CIS, with credit commitments of around USD 27.03 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.
