Exim Bank extends soft loans worth USD 210 mn to Guinea, BFSI News, ET BFSI

Exim Bank has extended soft loans worth USD 210.73 million on behalf of the Indian government to Guinea to support various projects in the African country. A USD 170 million line of credit (LOC) has been extended to finance and strengthen the drinking water supply project of Grand Conakry-Horizon 2040 in Guinea, the RBI said in a release on Thursday.

This agreement was inked in December 2019 between Exim Bank and the Government of Guinea. The agreement under the LOC is effective from August 11, 2021, it said.

Separately, USD 20.51 million line of credit has been provided for financing a project for construction and upgradation of regional hospitals in Kankan and Nzerekore. A USD 20.22 million LOC is for financing two solar projects in the country.

Giving the break-up, the statement said the solar project for supply of electricity and drinking water for seven public universities in Guinea will cost USD 14.40 million, while the solar project for electrification and refrigeration in 200 health facilities is to cost USD 5.82 million.

These two LOC agreements have also come into effect from August 11, 2021. ban