By IE&M Research
Export-Import Bank of India has extended a Line of Credit (LOC) of USD24.50 million to the Government of the Republic of Senegal, for upgradation and rehabilitation of healthcare system in Senegal. With the signing of the LOC Agreement by Ms. Meena Verma, General Manager the Exim Bank, till date has extended fourteen Lines of Credit to the Republic of Senegal, at the behest of the Government of India, taking the total value to USD319.86 million. The LOCs have supported export of equipments and services for projects in areas such as rural electrification, meat processing, fisheries development, IT training and Irrigation. Under the LOC, Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. Exim Bank has now in place 236 Lines of Credit, covering over 62 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over USD23.07 billion, available for financing exports from India.