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Annual Report 2011-12
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:: PRESS RELEASES |
Exim Bank Extends Fresh Credit Lines To Mali And Djibouti
Export-Import Bank of India (Exim Bank) has, at the behest of Government of India (GOI), extended two Lines of Credit (LOC) aggregating US$ 40 million to Mali and Djibouti. The US$ 30 million Line of Credit to Mali has been earmarked for financing electricity transmission and distribution project from Cote d'Ivoire to Mali while the US$ 10 million to Djibouti will be utilized for financing a Cement project.
Both the LOC Agreements were signed in New Delhi, on April 13, 2007, by Mr. Prabhakar Dalal, Chief General Manager, on behalf of Exim Bank and Mr. Abou Bakar TRAORE, Minister of Economy and Finance, on behalf of Government of Mali and Mr. Youssouf Omar Doualeh, Ambassador, on behalf of Government of Djibouti in India.
Exim Bank, in the past, extended, at the behest of GOI, two Lines of Credit to Government of Mali. The LOC of US$ 27 mn has been utilised for rural electrification and setting up of tractor assembly plant. Another LOC for US$ 20.62 mn has been used for acquisition of railway coaches and locomotives from India. The LOC to Djibouti now being extended is in addition to the earlier LOC of US$ 10 mn extended for the Portland cement project being set up in Djibouti.
Exim Bank has now in place 75 Lines of Credit, covering over 80 countries with credit commitments aggregating US$ 2.30 billion, which are available for financing India's exports to countries in Africa, Asia, Latin America, Europe and the CIS. 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,
Email: eximloc@eximbankindia.in
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