Exim Bank grants Cameroon $93.50 million for construction of transmission lines
06-03-2017 09:27:08 | by: Bob Koigi | hits: 9783 | Tags:

Export – Import Bank of India has committed $93.50 million to the government of Cameroon for construction of the 225 kV Nkongsamba - Bafoussam and Yaounde – Abong Mbang Transmission Line.

The agreement was signed by Mr. Debasish Mallick, Deputy Managing Director, on behalf of Exim Bank and H.E. Mr. Motaze Louis-Paul, Hon’ble Minister of Economy, Planning and Regional Development, on behalf of the Government of Republic of Cameroon.

BC-NEIA is a unique financing mechanism that provides a safe mode of non-recourse financing option to Indian exporters and serves as an effective market entry tool to traditional as well as new markets in developing countries, which need deferred credit on medium or long term basis.

Exim Bank has till date sanctioned $2.84 billion for 23 projects valued $3.07 billion under the programme. Further, Exim Bank has also given in-principle commitments for supporting several projects, at the behest of leading Indian project exporters, in order to enable these Indian companies to submit bids / negotiate contracts with overseas project authorities.

Besides promoting India’s exports, Exim Bank's BC-NEIA programme enables demonstration of Indian expertise and project execution capabilities in emerging markets.

Exim Bank has also extended two [2] Government of India supported Lines of Credit (LOCs) to the Government of Republic of Cameroon aggregating $79.65 million for Rice and Maize Farm Plantation project and Cassava Plantation project.