Exim Bank to support Guinea with $35 mn line of credit

Exim Bank (Export Import Bank) has extended a line of credit of USD 35 million to Republic of Guinea for construction and upgradation of hospitals.

Export-Import Bank of India (Exim Bank) has entered into an agreement with the Government of Guinea for a line of credit of USD 35 million for construction and up gradation of regional hospitals at Kankan and Nzerekore in Guinea, RBI said in a release.

The goods, machinery, equipment, and services including consultancy services from India for exports under the agreement are eligible for export under the Foreign Trade Policy of India.

Out of the total credit by Exim Bank under this, goods and services including consultancy services of at least 75 percent of contract price will be supplied by the seller from India.

The remaining 25 percent goods and services may be procured by the seller from outside India.