Export-Import Bank of India will provide a line of credit of USD 30 million to the West African nation Togo for financing goods and services towards a rural electrification project.
"Export-Import Bank of India (Exim Bank) has entered into an Agreement with Togo for making available to the latter, a Line of Credit (LOC) of USD 30 million for financing eligible goods, machinery, equipment and services including consultancy services from India," the Reserve Bank said today.
RBI said the financing of rural electrification project will cover 150 localities in Togo.
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LOC gives borrowers the freedom to draw the loan amount at as and when required.