Page 24 - Banking Finance April 2016
P. 24
EXPORT IMPORT NEWS
EXPORT-IMPORT BANK
Exim bank extends LOC Exim bank extends credit of USD 2 billion to
of USD 50 million to Bangladesh
Guyana
Exim Bank has, on behalf of the Gov- The LOC Agreement was signed in
Exim Bank has, at the behest of the ernment of India, extended a Line of Dhaka, Bangladesh.
Government of India, extended a Credit (LOC) of USD 2 billion
Line of Credit of USD 50 million to the to the Government of the The LOC of USD 2 billion is
Government of the Co-operative People's Republic of the largest ever GOI-sup-
Republic of Guyana, for financing Bangladesh, for financing ported LOC extended by
East Bank East Coast Road Linkage various social and infrastruc- Exim Bank to any country.
Project. ture development projects in With the signing of the
Bangladesh such as power, railways, agreement EXIM Bank has till date
The LOC Agreement to this effect road transportation, information and extended two LOCs to Bangladesh, on
was signed in Georgetown, Guyana communication technology, shipping, behalf of Government of India, taking
by Honorable Mr. Winston Jordan, health and technical education sectors. the total value of LOCs to USD 2.862
Minister of Finance, on behalf of the billion.
Government of Co-operative Repub-
lic of Guyana and Mr. T. D. Exim bank extends buyer's credit under NEIA to the Sri
Sivakumar, Resident Representative, Lanka for water project
Washington D. C., on behalf of Ex-
port-Import Bank of India. Exim Bank has signed three Buyer's Credit Agreements, under National Export
Insurance Account (BC-NEIA) aggregating USD 403.01 mn with National Water
With the signing of the LOC Agree- Supply and Drainage Board (NWSDB), Sri Lanka in Colombo, for financing projects
ment for USD 50 million, EXIM Bank, in water sector.
till date, has extended five LOCs to
the Co-operative Republic of Mr. Yaduvendra Mathur, Chairman and Managing Director, Exim Bank thanked
Guyana, at the behest of the Govern- the Indian High Commission in Colombo in facilitating the conclusion of the
ment of India, taking the total value Buyers' Credit Agreements. Speaking on the occasion, Hon'ble Minister Mr. Rauf
of LOCs to USD 94.10 million. Hakeem expressed satisfaction at the conclusion of these agreements and
thanked the Government of India for financing the three water supply projects,
The first LOC of USD 19 million was adding that the projects would supply potable water to nearly one million people.
extended in November 2004 for Con-
struction of a cricket stadium for Exim Bank extended five (5) GOI-supported Lines of Credit (LOCs) to the Gov-
World Cup 2007 in Georgetown, ernment of Sri Lanka (GOSL), for railway rehabilitation in the southern and the
Guyana. northern railway corridors aggregating at USD 1,066.16 mn. Exim Bank has also
extended Buyer's Credit under National Export Insurance Account (BC-NEIA)
aggregating USD 185 mn for Water Treatment Plant and other projects.
24 | 2016 | APRIL | BANKING FINANCE
