Exim Bank extends USD 35.80 mn line of credit to Suriname for rural electrification

The Export-Import Bank of India (Exim Bank) on Wednesday said it has extended USD 35.80 million (about Rs 250 crore) line of credit to Suriname government to fund the country's rural electrification programme. The line of credit (LOC) is meant for financing rural electrification through solar DG hybrid PV systems in 50 remote villages of Suriname, the bank said in a statement.

With the latest round of funding, the Indian government has till date extended nine LOCs to Suriname, totalling USD 124.98 million (about Rs 890 crore). The projects covered under LOCs extended to Suriname include power, water supply, purchase of helicopters, and rehabilitation and upgradation of milk processing plant.

With this agreement, Exim Bank has now in place 258 LOCs covering 64 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 25.48 billion available for financing exports from India. Besides promoting India's exports, the bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)