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BUSINESS OPPORTUNITIES AVAILABLE ACROSS THE GLOBE TO UTILIZE LINE OF CREDIT BY EXIM BANK
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n behalf of the Indian government, the ExportImport Bank of India (Exim Bank) has extended a line of credit (LOC) to Africa. Exim Bank now has 269 LOCs in operation, covering 62 countries in Africa, Asia, Latin America, and the Commonwealth of Independent States (CIS), with credit commitments totaling USD 26.64 billion, to fund India’s exports.
Latin America, CIS and the Oceania, with credit commitments of USD 31.58 billion.
LINES OF CREDIT (LOC) is a proactive mechanism to share India’s Development Experience with Partner Countries. Exim Bank extends and operates LOCs on behalf of the Government of India. As on February 28, 2021, 313 Lines of Credit, covering 64 countries in Africa, Asia,
NIGER: A project valued USD 15.67 million for setting up a 7 MW solar PV farm was financed under an LoC to the Government of Niger and completed in 2018. The project has helped Niger to meet the needs in electricity of its rural population thereby empowering the
26 THE TIMES OF AFRICA
SUCCESS STORIES UNDER LOCS SENEGAL: Exim Bank has extended an LOC of USD 27.50 mn to the Government of Senegal for Rural electrification project. The project scope also includes Solar Electrification in 62 villages, under which there are a total 1,750 solar connections.
socio-economic growth of rural areas. COTE D’IVOIRE: GOI has extended a LoC of USD 25 .50 million to the Government of Cote d’Ivoire for financing the Mahatma Gandhi IT and Biotechnology Park in Cote d’ivoire. The project is a dedicated Free Trade Zone (FTZ) for IT & Biotechnology. The project has given the first computer assembling line in the country. Computer assembling line is of paramount importance under the Government of Cote d’Ivoire’s One Citizen, One Computer, One Internet Connection’ program launched in 2015. The IT park is the first step in GO -CIV’s plan to build a Green Smart City for employment for 40 ,000 citizens and attract USD 2 billion of investments in the
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