ANNOUNCEMENT 04 Oct 2017
The Indian EXIM Bank has extended a credit of USD 110 million to Mauritania.
NUMBER OF INTERVENTIONS
On 4 October 2017, the Export Import Bank of India (EXIM) signed a Buyer's Credit Agreement under the National Export Insurance Account (NEIA) of USD 110 million with the Government of Islamic Republic of Mauritania. The credit will be used for financing the development of 225/90 kV transmission lines from Nouakchott to Nouadhibou.
The Buyer's Credit under NEIA is a non-recourse financing provided to promote and support Indian exports in new markets.
All credit agreements signed in the past by the EXIM bank of India require that a certain share of the contract price of goods and services associated with the projects is sourced from India. The exact compulsory sourcing requirement will be announced with the official credit agreement.