Exim Bank inks USD 124 mn loan pact for infra, health projects in Papua New Guinea, Senegal

Exim Bank has signed agreements with Papua New Guinea and Senegal governments for providing USD 124 million (over Rs 850 crore) loans to finance infrastructure and health care projects in these countries. The Export-Import Bank of India (Exim Bank) has entered into an agreement with Papua New Guinea for Government of India supported line of credit of USD 100 million for financing infrastructure projects in the country, RBI said in a notification.

Of the total soft loan for the country, USD 60 million is to go for Bayer-Madang road project and USD 40 million for Hoskins-Kimbe road project. The agreement under this line of credit is effective from June 25, 2019, it said.

Besides, an agreement was signed with Senegal for USD 24.5 million line of credit for financing upgradation and rehabilitation of health care system in the country. The agreement under the line of credit is effective from June 26, 2019.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)