Exim Bank extends line of credit of $161.36 mln to Burundi Govt

NEW DELHI, July 3: Export-Import Bank of India (Exim Bank) has, on behalf of the Government, extended a Line of Credit of 161.36 million dollars to the Burundi Government for construction of a parliament building in Gitega and ministerial buildings in Burundi.
The LOC agreement to this effect was signed on Tuesday by Meena Verma, General Manager, on behalf of the Exim Bank and Domitien Ndihokubwayo, Minister of Finance, Budget and Economic Development Cooperation, on behalf of the Government of the Republic of Burundi.

With the signing of the agreement, the Exim Bank, till date, has extended four Lines of Credit to the Government of Burundi, on behalf of the Government of India, taking the total value of LOCs extended to 283.74 million dollars.
Projects covered under the LOCs extended to the Government of Burundi includes Hydro Electric Project, Farm Mechanization and Integrated Food Processing Complex.

With the pact, the Exim Bank has now in place 250 Lines of Credit, covering 63 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around 25 billion dollars, 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.