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Exim Bank offers LoCs of USD 95 mn to Ghana

Written by: Staff

Mumbai, Mar 25 (UNI) The Export-Import Bank of India (Exim Bank) has entered into agreements with two African countries to make available to them Lines of Credit (LoCs) up to an aggregate of USD 93.5 million.

The LoC agreement with Ghana is for USD 60 million and with Congo for USD 33.5 million, Exim Bank has informed the RBI, saying its credit agreement with Ghana become effective on February 27, and with Congo on February 20.

For Ghana, USD 30 million each is available for financing exports from India of equipment, goods and services for rural electrification project and the construction of the Presidential office, stated the release.

For Congo, USD 12.5 million credit is available for financing export from India of 228 buses, USD 2 million for equipments for Miniere de Bakwanga (MIBA), USD 13 million credit for other equipment, goods and services, including consultancy services, for setting up a cement factory and USD 6 million for rehabilitation of a mine in Idsenge Manganse which are eligible for export under the foreign trade policy of Indian government.


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