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Annual Report 2009-10
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:: PRESS RELEASES |
Exim Bank Signs US$ 30 MN Line Of Credit Pact With Government Of Cote D'ivoire
Mr. Prabhakar Dalal, Executive Director, Exim Bank of India and H. E. Mr. Zady Gbaka Richard, Ambassador of Cote d'Ivoire in India at the signing ceremony of an Agreement for a Line of Credit of US$ 30 million to the Government of Cote d'Ivoire, for financing rice Production Programme in Cote d'Ivoire.
Exim Bank of India has, at the behest of Government of India, extended a Line of Credit (LOC) of US$ 30 million to Government of Cote d'Ivoire for financing Rice Production Programme in Cote d'Ivoire. The LOC Agreement to this effect was signed in New Delhi, on Wednesday, March 31, 2010, by Mr. Prabhakar Dalal, Executive Director on behalf of Exim Bank, and H. E. Mr. Zady Gbaka Richard, Ambassador of Cote d'Ivoire in India, on behalf of Government of Cote d'Ivoire. Exim Bank will reimburse 100% of contract value to the Indian project exporter(s), upfront upon the shipment of goods/ provision of services.
Exim Bank has, at the behest of and with the support of GOI, already extended three Lines of Credit amounting to US$ 82.30 million to Government of Cote d'Ivoire, a country in West Africa. Earlier LOCs to Cote d'Ivoire were/are being utilized for renewal of urban transport system in Abidjan, vegetable oil extraction plant, cashew nut extraction plant, cassava starch making plant, Mahatma Gandhi IT & Biotechnology Park, fisheries processing plant, coconut fibre processing plant and an electricity interconnection project between Cote d'Ivoire and Mali.
Exim Bank has in place 136 Lines of Credit, covering over 94 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over US$ 4.49 bn, available for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters. Besides promoting India's exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.
For further information, please contact
Mr. Nadeem Panjetan,
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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