EXIM extends $23.37 million line of credit to Guyana for aircraft procurement

Aircraft

Export-Import Bank of India has extended $23.37 million line of credit to Guyana to buy two aircraft from India for the country’s defence forces, Government of Cooperative Republic of Guyana.

The line of credit was extended on behalf of government of India, the bank said in a release on March 19.

The line of credit was signed on March 15 by Guyana's senior minister in the office of the president with responsibility for finance and the public service Ashni K Singh and Sanjay Lamba, Deputy General Manager, Exim Bank.

With this, Exim Bank has now in place 292 Lines of Credit, covering 62 countries in Africa, Asia, Latin America, CIS and the Oceania, with credit commitments of around $2.72 billion, available for financing exports from India.

Besides promoting India’s exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets, the release said.