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  • Exim Bank, On Behalf Of The Government Of India, Extends A Line Of Credit [Loc] Of Usd 30 Million To The Government Of The Republic Of Sierra Leone

    Published on October 15, 2019

    Mumbai :  Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended a Line of Credit [LOC] of USD 30 million to the Government of the Republic of Sierra Leone, for the purpose of financing land and infrastructure development including hydraulics, water management system (irrigation) and provision of tractors in Sierra Leone. The LOC Agreement to this effect was signed in Free Town, Sierra Leone on Sunday, October 13, 2019, by Ms. Meena Verma, General Manager, on behalf of Exim Bank and H. E. Dr. Patricia Laverley, Deputy Minister of Finance, on behalf of the Government of the Republic of Sierra Leone during the visit of the Hon’ble Vice President of India to Sierra Leone.

     

    With the signing of the above LOC Agreement, Exim Bank, till date, has extended 4 (Four) Lines of Credit to the Government of the Republic of Sierra Leone, on behalf of the Government of India, taking the total value of LOCs extended to USD 153 million. The LOCs extended to the Government of the Republic of Sierra Leone cover projects in sectors including Power, Agriculture, and potable water in Sierra Leone. 

     

    Exim Bank has now in place 257 Lines of Credit, covering 63 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.23 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.