EXIM Bank and Guyana Government Forge $2.5M Line of Credit Agreement

Tags: Economy/Finance

The Export-Import Bank of India (EXIM Bank) has entered into a $2.5 million Line of Credit agreement with the government of Guyana.

An Overview of the News

• The agreement is for the installation of a solar photovoltaic power plant at the Cheddi Jagan International Airport in Guyana.

• The deal was dated February 29, 2024.

• The agreement under the Line of Credit became effective on June 24, 2024.

• The last date for disbursements under the Line of Credit will be 48 months after the completion of the project.

Terms and Conditions

• At least 75% of the goods, works, and services under the contract must be supplied by sellers from India.

• The remaining 25% of the contract price may be procured from outside India.

About EXIM Bank:

• Establishment: 1982

• Headquarters: Mumbai, Maharashtra

• Managing Director: Harsha Bangari

Co-operative Republic of Guyana

• Capital: Georgetown

• President: Irfaan Ali

• Currency: Guyanese dollar (GYD)