Exim Bank in pact with Guyana for $2.4m credit line

The Export Import Bank of India has entered into an agreement with the government of Guyana to provide a line of credit worth $2.5 million for the installation of a solar photovoltaic power plant, the Reserve Bank of India said.

Under the Line of Credit, the last date for disbursementswill be 48 months after the completion of the project, the RBI said.

The solar photovoltaic power plant will be set up at the Cheddi Jagan International Airport.

Of the total credit provided by Exim Bank, goods, works and services worth at least 75% of the contract price will be supplied by the seller from India and the remaining 25% may be procured by the seller from outside India for the eligible contract, the RBI said.