Exim Bank gives $19-mn LoC to Guyana

Export-Import Bank of India (Exim Bank) has extended line of credit (LoC) of $19 million to the government of Guyana, for setting up a multi-speciality hospital.

The bank has done this at the behest of the Indian government. This is the fourth LoC extended by Exim Bank to the Guyana government. The total value of LoCs extended up to now is $44.10 million. The LoCs have supported construction of a cricket stadium in Georgetown, a traffic signalling system project and fixed and movable irrigation pumps.

Under the LoCs, Exim Bank reimburses 100 per cent of the contract value to the Indian exporter. Exim Bank has now 163 lines of credit, covering 75 countries.