Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Nov 07, 2019 09:05 PM IST | Source: PTI

Exim Bank gives $30 million line of credit to Ghana

Out of the total credit by Exim Bank under the agreement, goods, works and services of the value of at least 75 percent of the contract price shall be supplied by the seller from India and the remaining 25 percent of goods and services may be procured by the seller for the purpose of eligible contract from outside India, RBI said.

The Export-Import (Exim) Bank has provided a $30 million line of credit to Ghana for potable water project in the country. Exim Bank has entered into an agreement with Ghana for a line of credit (LoC) of $30 million (about Rs 210 crore) for financing rehabilitation and up-gradation of potable water system in Yendi, Ghana, the Reserve Bank of India (RBI) said in a release on November 7.

Under the arrangement, financing of export of eligible goods, works and services from India would be allowed subject to their being eligible for export under the Foreign Trade Policy of India and whose purchase may be agreed to be financed by the Exim Bank.

Out of the total credit by Exim Bank under the agreement, goods, works and services of the value of at least 75 percent of the contract price shall be supplied by the seller from India and the remaining 25 percent of goods and services may be procured by the seller for the purpose of eligible contract from outside India, RBI said.

Close

The agreement under the LoC (soft loan or loan with low interest rate) is effective from October 11, 2019.

Under the LoC, the terminal utilisation period is 60 months after the scheduled completion date of the project.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Nov 7, 2019 08:45 pm
Loading...
Sections
Follow us on
Available On