With signing of this agreement, Exim Bank, so far, has extended four LOCs to Nicaragua, on behalf of the Indian government, taking the total value to USD 87.63 million, a release said.
Projects covered under the LOCs include supply of equipment for building two substations, construction of transmission lines, building new substation, expansion of the existing substations and reconstruction of a hospital.
Post the signing of this LOC agreement, Exim Bank has now in place 261 LOCs, 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. HV MKJ