Mumbai, December 05, 2019: Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended two Lines of Credit [LOCs] of USD 20.22 million and USD 170 million for Solar Projects and Strengthening the Drinking Water Supply of Grand Conakry-Horizon 2040, respectively, to the Government of the Republic of Guinea.
The LOC Agreements to this effect were signed in the presence of Shri. Subrahmanyam Jaishankar, External Affairs Minister, Government of India, in New Delhi on Thursday, December 05, 2019, between Mr. Sudatta Mandal, Chief General Manager, Exim Bank, and H.E. Mr. Mamadi Touré, Hon’ble Minister of Foreign Affairs and Overseas of Guinea, Government of the Republic of Guinea.
With the signing of the above two LOC Agreements for USD 20.22 million and USD 170 million, Exim Bank, till date, has extended 3 (Three) 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 225.22 million. Projects covered under the LOCs extended to the Government of the Republic of Guinea includes Construction and Upgradation of Mother and Child Hospitals, Solar Projects and Drinking Water Supply in Guinea.
With the signing of these LOC Agreements, Exim Bank has now in place 259 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.42 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.