Points to Remember:
- The Export-Import (Exim) Bank has provided a USD 30 million line of credit to Ghana for potable water project in the country.
- Exim Bank has entered into an agreement with Ghana for a line of credit (LoC) of USD 30 million (about Rs 210 crore) for financing rehabilitation and up-gradation of potable water system in Yendi, Ghana
- The agreement under the LoC (soft loan or loan with low interest rate) is effective from October 11, 2019.
- Under the LoC, the terminal utilisation period is 60 months after the scheduled completion date of the project.
About Exim Bank (India):
- Founded: 1 January 1982
- Headquarters: Mumbai, India
- Managing Director: David Rasquinha
- Capital: Accra
- President: Nana Akufo-Addo
- Vice-President: Mahamudu Bawumia
- Currency: Ghanaian cedi
Important Possible questions based on above News:
- Which finance institution has provided a USD 30 million line of credit to Ghana for potable water project in the country? Exim Bank
- Recently Export-Import (Exim) Bank has provided a ___ line of credit to Ghana for potable water project in the country. USD 30 million