MUMBAI, 20 JUNE, 2020 (GPN):  Exim Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 20.10 million for reconstruction of Aldo Chavarria Hospital, to the Government of the Republic of Nicaragua.

The LOC Agreement to this effect was signed on Friday, June 12, 2020, through exchange between Mr. Tarun Sharma, General Manager, Exim Bank, and Mr. José Adrián Chavarria, General Viceminister, Ministry of Finance and Public Credit, Government of Republic of Nicaragua.

With the signing of the above LOC Agreement for USD 20.10 million, Exim Bank, till date, has extended 4 (four) Lines of Credit to the Government of the Republic of Nicaragua, on behalf of the Government of India, taking the total value of LOCs to USD 87.63 million. Projects covered under the LOCs extended to the Government of the Republic of Nicaragua includes supply of equipment for building two substations, construction of transmission lines, building new substation, expansion of the existing substations and reconstruction of a hospital.

With the signing of this LOC Agreement, Exim Bank has now in place 261 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.70 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. ENDS