Mumbai: Export-Import Bank of India has extended two lines of credit (LOCs) of $20 million and $39.69 million to the Government of the Central African Republic (CAR).
Lines of Credit
The LOCs, extended by the bank at the behest of the Government of India, are for development of a mining project ($20 million) and for two hydro-electric projects ($39.69 million) in the CAR, said an Exim Bank statement.
The LOC agreements were signed in New Delhi at the CII-EXIM Bank Conclave on India-Africa Project Partnership recently.
Cement Plant
Previously, Exim Bank had extended a line of credit to the African Republic of $29.50 million for setting up of a modern dry process cement plant and for supply of 100 buses for internal transport.
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