Exim Bank extends $7.35 mn line of credit to Nicaragua

The Export-Import Bank of India (Exim Bank), on behalf of the Indian government, has extended Line of Credit of $7.35 million to the central American nation of Nicaragua for replacement and supply of equipment of the High Technology Centre of Hospital Antonio Lenin Fonseca in its capital Managua.

The project, under the LOC, will facilitate improving the quality of life of patients and provide a modern hospital infrastructure in Nicaragua. It would also enable export of medical equipment from India.

With the signing of the LOC agreement, Exim Bank, till date, has extended five Lines of Credit to Nicaragua, on behalf of India, taking the total value of LOCs extended to $94.98 million. The LOCs cover projects in the power and healthcare sectors in Nicaragua.

Exim Bank has now in place 269 Lines of Credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around $26.64 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. - IANS