Image: ETENERGY WORLD
The Export Import (Exim) Bank of India has extended a $35.26 million loan for the construction of a power transmission project in Senegal.
The bank signed a Buyer’s Credit Agreement with Senegal’s Ministry of Economy, Planning and Co-operation for the construction and installation of 225 kV overhead Transmission Line – which is being built by Mumbai-based Kalpataru Power Transmission – from Tanaff to Ziguinchor.
According to an official statement, the funding was provided under the National Export Insurance Account (NEIA) scheme, which provides a safe mode of financing option to Indian project exporters backed by cover from the NEIA Trust.
India Exim Bank also funded the construction of a 225kV transmission line for the Tambacounda – Kolda – Ziguinchor link in Senegal through a Buyer’s Credit facility of $200 million under the NEIA Program. The Bank has, additionally, supported a number of projects in power, water, railway and road sectors in various countries in Africa, Asia and Latin America under the NEIA scheme.