Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended a Line of Credit [LOC] of USD 40 million to the Government of Togo for the purpose of electrification of 350 villages in Togo through Solar photo-voltaic systems.
The LOC Agreement to this effect was signed by H.E Mr. Sani YAYA, Hon’ble Minister of Economy and Finance, Government of Togo and Mr. G. Selva Kumar, Resident Representative, Exim Bank’s Abidjan Representative Office, in the presence of H.E Ms. Mila AZIABLÉ, Hon’ble Minister of Mines and Energy, Government of Togo and Mr. Praveen Chandra Kala, Charge d’Áffaires, Indian Embassy in Togo, in Lomé on June 23, 2021.
With the signing of the above LOC Agreement for USD 40 million, Exim Bank, till date, has extended 5 (five) Lines of Credit to the Government of Togo, on behalf of the Government of India, taking the total value of LOCs extended to USD 150.10 million. The LOCs extended to the Government of Togo covers projects in sectors including Rural Electrification, Farming, Transmission lines and Solar Energy.
With the signing of this LOC Agreement, Exim Bank has now in place 274 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 26.98 billion, 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.