Exim Bank extends $23 mn line of credit to Guyana for aircraft procurement

With this line of credit, bank has 292 LOC in place now, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of $2.72 bn available for financing exports

The Export-Import Bank of India (Exim Bank) on Tuesday announced it has extended a $23.37 million (about Rs 194 crore) line of credit to the government of Cooperative Republic of Guyana for the procurement of two aircraft from India for the South American country's defence forces.

An agreement was signed on March 15 between Guyana's senior minister in the office of the President with responsibility for finance and the public service, Ashni K Singh, and the policy bank's deputy general manager Sanjay Lamba in the presence of High Commissioner of India to Guyana, Amit Telang.

With this line of credit (LOC), the bank has 292 LOC in place now, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of around $2.72 billion available for financing exports from India.