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Export-Import Bank of India (Exim Bank) has, at the behest of the Government of India, extended a Line of Credit (LoC) of $19 million to the Government of Guyana for setting up a multi-specialty hospital.
The LoC agreement to this effect was signed by David Rasquinha, Executive Director on behalf of Exim Bank and Ashni Kumar Singh, Minister of Finance, on behalf of the Government of Guyana.
This is the fourth LoC extended by Exim Bank to Guyana, taking the total value of LoCs extended to $44.10 million. The LoCs have supported construction of a cricket stadium in Georgetown, executing a traffic signalling system project and, fixed and movable irrigation pumps, Exim Bank said in a statement.
With the signing of this LoC agreement, Exim Bank has in place 163 Lines of Credit covering 75 countries in Africa, Asia, Latin America, Europe, Oceania and the CIS, with credit commitments of over $8.53 billion available for financing exports from India.
Under the LoCs, Exim Bank reimburses 100 per cent of contract value to the Indian exporter upfront upon the shipment of goods/ provision of services.
Guyana is located on the northern coast of South America. It is the only member of the Commonwealth of Nations on mainland South America. Guyana is surrounded by Suriname on the east, Brazil to the south and southwest, Venezuela to the west, and the Atlantic Ocean to the north.
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