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Updated on: Thursday, August 19, 2021, 05:57 PM IST

Exim Bank extends soft loans worth $210 mn to Guinea

PTI
$170 mn line of credit (LOC) has been extended to finance and strengthen the drinking water supply project and $20.51 mn for construction and upgradation of regional hospitals in Guinea, the RBI said/ Representational image | PIxabay

$170 mn line of credit (LOC) has been extended to finance and strengthen the drinking water supply project and $20.51 mn for construction and upgradation of regional hospitals in Guinea, the RBI said/ Representational image | PIxabay

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Exim Bank has extended soft loans worth $210.73 million on behalf of the Indian government to Guinea to support various projects in the African country.

A $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, $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 $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 $14.40 million, while the solar project for electrification and refrigeration in 200 health facilities is to cost $5.82 million.

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

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Published on: Thursday, August 19, 2021, 05:55 PM IST
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