Exim Bank extends $42 m LOC to Senegal


The Export-Import Bank of India (Exim Bank) has extended a Line of Credit (LOC) of $41.96 million to the Government of Senegal for setting up a modern abattoir, meat-processing cold storage, rendering and tannery plant and marketplace in Senegal.

This loan has been extended at the behest of Union Government and agreement to this effect was signed in New Delhi on December 6, 2013, by Exim Bank CMD Anurag Jain and Ambassador of Senegal to India, Amadou Moustapha DIOUF in the presence of officials from the Ministry of External Affairs.

This is the eleventh LOC extended by Exim Bank to the Government of Senegal. The earlier ten LOCs for value aggregating $164.45 million were extended to the Government of Senegal for financing purchase of agricultural machinery & equipment, supply of buses and spares, Irrigation project, women poverty alleviation programme & acquisition of vehicles, IT training project, acquisition of railway coaches and locomotives, rural electrification project & fishing industry development, medical equipments, furniture and procurement of pumping equipment and crane trucks.

Two other projects aggregating $25.62 million have been financed under the LOC of $250 million extended to the ECOWAS Bank for Investment and Development.

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