Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended Line of Credit [LOC] of USD 15.00 million to the Government of the Republic of Sierra Leone for the purpose of expansion of the ongoing projects for rehabilitation of existing potable water facilities in four communities in the Borrower’s Country. This LOC will be used for implementation of projects by Indian companies which will benefit 1,00,000 residents in the 4 communities of Sierra Leone.
The LOC Agreement to this effect was signed on February 05, 2021, through exchange between Mr. Saroj Khuntia, General Manager, Exim Bank, and H.E. Mr. Jacob Jusu Saffa, Finance Minister, Government of Republic of Sierra Leone.
With the signing of the above LOC Agreement, Exim Bank, till date, has extended 5 (Five) 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 168 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.
With the signing of this LOC Agreement, Exim Bank has now in place 267 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26.59 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.
Sachin Gawade