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Annual Report 2011-12
:: PRESS RELEASES
Exim Bank Signs US$ 5 MN Line Of Credit Pact With Government Of Senegal
Mrs. Ravneet Kaur, Chairman and Managing Director, Exim Bank of India and H. E. Mr. Karim WADE, Minister for International Cooperation, Infrastructure, Land Development and Air Transport, Government of Senegal at the signing ceremony of an Agreement for a Line of Credit of US$ 5 million to the Government of Senegal, at the 6th CII-EXIM BANK conclave on India Africa Project Partnership held on March 14-16, 2010 in New Delhi.
Exim Bank of India has, at the behest of Government of India, extended a Line of Credit (LOC) of US$ 5 million to Government of Senegal for financing supply of medical equipments, furniture and other accessories to four hospitals in Senegal. The LOC Agreement to this effect was signed in New Delhi, on Monday, March 15, 2010, by Mrs. Ravneet Kaur, Chairman and Managing Director on behalf of Exim Bank, and H. E. Mr. Karim WADE, Minister for International Cooperation, Infrastructure, Land Development and Air Transport, on behalf of Government of Senegal. The Agreement was signed at the 6th CII-EXIM BANK conclave on India Africa Project Partnership held on March 14-16, 2010 in New Delhi, which was attended by over 400 delegates from 34 African countries comprising Ministers, bureaucrats, bankers and businessmen and 500 delegates from India.
Exim Bank has, at the behest of and with the support of GOI, already extended seven Lines of Credit amounting to US$ 112.95 million to Government of Senegal. Earlier LOCs to Senegal were utilized for projects for development of urban transport infrastructure, irrigation systems, information & communication technology (ICT), women poverty alleviation, rural administration, railway infrastructure, agriculture, rural electrification and fishing industry, which have resulted in creation of basic infrastructure, generation of employment, enhancement of skills, increase in income of women in rural areas and overall development of Senegal.
Exim Bank has in place 134 Lines of Credit, covering over 94 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over US$ 4.46 bn, available for financing exports from India. 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 emerging markets.
For further information, please contact
Mr. Nadeem Panjetan,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22162073/22172310,