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Annual Report 2007-08
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:: PRESS RELEASES |
Exim Bank Extends US$ 25 MN LOC To Ghana
Mr. S.R. Rao, Executive Director, Export-Import Bank of India signing a Line of Credit Agreement for US$ 25 million with H.E. Mr. J. Bentum-Williams, High Commissioner, Ghana High Commission in India on behalf of the Government of Ghana, on September 2, 2008
Export-Import Bank of India (Exim Bank) has, at the behest of Government of India, extended a Line of Credit (LOC) of US$ 25 million to the Government of Ghana. The LOC Agreement to this effect was signed in New Delhi, on Tuesday, September 2, 2008, by Mr. S.R. Rao, Executive Director, on behalf of Exim Bank and H.E. Mr. J. Bentum-Williams, High Commissioner, Ghana High Commission in India on behalf of the Government of Ghana. The LOC has been earmarked for the purpose of financing (i) ICT and Good Governance, (ii) Procurement of track materials, tools and equipments, wagons and spares, trucks and buses, foundry materials and (iii) Agro Processing Plant in Ghana. Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon the shipment of goods.
Exim Bank already has in place three Lines of Credit aggregating to US$ 102 million that have been extended to the Government of Ghana. The LOCs were utilized for projects including Rural electrification, Construction of seat of Government, Agriculture, Transportation and Communication equipment. Main products exported from India to Ghana include transport equipment, petroleum crude, pharmaceutical products, primary & semi-finished iron & steel, machinery & instruments, manufactures of metals and plastic & linoleum products.
Exim Bank has in place 102 Lines of Credit, covering over 90 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over US$ 3.35 bn, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters.
For further information, please contact
Mr. Prabhakar Dalal,
Chief General Manager,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22162073/22172310,
Fax::(022) 22182460.
E-mail:eximloc@eximbankindia.in
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