With a continued focus on Africa, the Export-Import Bank of India (EXIM Bank) has prolonged the fifth line of credit score (LOC) to Sierra Leone. The LOC price $15 million will likely be used for the growth of tasks for rehabilitation of present potable water services that can profit 100,000 residents in 4 communities. The whole worth of all of the 5 LOCs now stands at $168 million and covers sectors comparable to energy, agriculture, potable water.
The newest LOC was signed on February 5 between EXIM Bank’s General Manager Saroj Khuntia and Sierra Leone’s Finance Minister Jacob Jusu Saffa.
Specifically, for Africa, India has a complete of 211 Line of Credits (LoCs) amounting to USD 12.85 billion in numerous infrastructure tasks comparable to energy vegetation, hydroelectricity, energy transmission and distribution networks, dams and many others. New sectors comparable to telecommunication, defence and photo voltaic have additionally been included below the Indian authorities’s LoCs to Africa previously few years.
LoCs has been used to construct iconic tasks just like the Mahatma Gandhi Convention Centre in Niger. The centre hosted the OIC FMs meet final yr. New Delhi has additionally prolonged LOC below new channels together with the Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID).