Exim Bank makes low interest loans worth US $ 210 million to Guinea

0

Exim Bank has granted Guinea soft loans of US $ 210.73 million on behalf of the Indian government to support various projects in the African country.

A credit line of US $ 170 million (LOC) has been granted to finance and strengthen the Grand Conakry-Horizon 2040 drinking water supply project in Guinea, the RBI said in a press release on Thursday.

This agreement was signed between Exim Bank and the government of Guinea in December 2019. The agreement under the LOC will be effective from August 11, 2021, it said.

Separately, a $ 20.51 million line of credit was provided to fund a project to build and upgrade regional hospitals in Kankan and Nzerekore. A $ 20.22 million LOC is earmarked to fund two solar projects in the country.

The solar project to provide electricity and drinking water for seven public universities in Guinea will cost $ 14.40 million, while the solar project to electrify and cool 200 healthcare facilities will cost $ 5.82 million.

These two LOC agreements also came into force on August 11, 2021.

(To receive our e-paper daily on WhatsApp, please click here. We allow the PDF document of the paper to be shared on WhatsApp and other social media platforms.)

Posted on Thursday August 19, 2021 5:55 pm IST

Leave A Reply

Your email address will not be published.