EXIM BANK, ON BEHALF OF THE GOVERNMENT OF INDIA, EXTENDS TWO LINES OF CREDIT OF USD 30 MILLION AND USD 150 MILLION TO THE GOVERNMENT OF THE REPUBLIC OF GHANA

Jaipur, April 10, 2019 : Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended two Lines of Credit [LOCs] of USD 30 million for Rehabilitation and Upgradation of Potable Water System in Yendi and USD 150 million for Strengthening of Agriculture Mechanization Service Centres to the Government of the Republic of Ghana. The LOC Agreements to this effect was signed in Accra on April 05, 2019, by H.E. Mr. Ken Ofori Atta, Minister of Finance and Economic Planning, on behalf of the Government of the Republic of Ghana and Mr. Pushpesh Tyagi, Resident Representative, Abidjan Representative Office on behalf of Exim Bank. Signing Ceremony was graced by Mr. Birender Singh Yadav, High Commissioner of India in Accra, H.E. Dr. Owusu Afriyie Akoto, Minister of Food and Agriculture, Government of the Republic of Ghana and H.E. Mr. Patrick Y Boamah, Deputy Minister of Sanitation and Water Resource, Government of the Republic of Ghana.

With the signing of the above LOC Agreements for USD 30 million and USD 150 million, Exim Bank, till date, has extended 9 (Nine) Lines of Credit to the Government of the Republic of Ghana, on behalf of the Government of India, taking the total value of LOCs extended to USD 388.26 million. Projects covered under the LOCs extended to the Government of the Republic of Ghana include rural electrification projects, agriculture and transportation projects, construction of Presidential Office, railway corridors and agro processing plant, Foreign Policy Training Institution, Fish Processing Plant, Waste Management support project, Sugar plant and Sugarcane development and irrigation project.

With the signing of this LOC Agreement, Exim Bank has now in place 248 Lines of Credit, covering 63 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 24.46 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.