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EXPORT IMPORT NEWS
EXPORT-IMPORT BANK
NEWS
Exim Bank celebrated Exim Bank extended a Line of Credit of USD 35 million
Hindi Fortnight to the Government of the Republic of Guinea
Hindi Fortnight was celebrated in Ex- Export-Import Bank of India (EXIM Bank) has, at the behest of the Government
port-Import Bank
of India (EXIM of India, extended a Line of
Bank) from Sep-
tember 01, 2015 Credit (LOC) of USD 35 mil-
to September 15,
lion to the Government of
2015. During this period various
programmes including Hindi compe- the Republic of Guinea, for
titions for staff members, Hindi work-
shops, Sangeet Sandhya were orga- Construction and
nized which were aimed at motivat-
ing and encouraging staff members Upgradation of Regional
for increasing use of Hindi in their
day- to- day work. Hospitals at Kankan and
Hindi Fortnight started with the re- Nzerekore in Guinea.
lease of message by Chairman and
Managing Director. A function to The LOC Agreement to this
give away prizes to the winners of effect was signed in New
Hindi competitions was organised on Delhi on Wednesday, September 9, 2015, by H.E. Mr. Alexandre Cece Loua,
September 16, 2015. Messages of Ambassador of the Republic of Guinea in India, on behalf of the Government of
Hon'ble Finance Minister, Shri Arun Republic of Guinea and Mr. Tarun Sharma, Regional Head of EXIM Bank's New
Jaitley and Hon'ble Home Minister, Delhi Office on behalf of Export-Import Bank of India.
Shri Rajnath Singh were circulated to
the staff members. This is the first LOC extended by EXIM Bank to the Government of the Republic
of Guinea. Republic of Guinea is located in West Africa bordering the North
Shri Piyush Pandey, noted Ad Guru, Atlantic Ocean to its west and shares its northern border with Guinea-Bissau,
graced the occasion as Chief Guest. Senegal and Mali and its southern border with Sierra Leone, Liberia and Côte
The function was presided over by d'Ivoire.
Shri Yaduvendra Mathur, Chairman
and Managing Director of EXIM With the signing of this LOC Agreement, EXIM Bank has now in place 199 Lines
Bank. Prizes were distributed to win- of Credit, covering 63 countries in Africa, Asia, Latin America, Oceania and the
ners of Hindi competitions organized CIS, with credit commitments of over USD 12.19 billion, available for financing
by the Bank. exports from India. Under the LOCs, EXIM Bank will reimburse 100% of contract
value to the Indian exporters, upfront upon the shipment of equipment and
goods/ provision of services.
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 emerg-
ing markets.
22 | 2015 | NOVEMBER | BANKING FINANCE
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