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India Bank inks US$124m loan to PNG

Export-Import Bank of India (Exim Bank) has signed agreements with PNG and Senegal governments, providing US$124 million loans to finance infrastructure and health care projects in the countries.

The bank has entered into an agreement with PNG for government of India supported line of credit of US$100 million for financing infrastructure projects in the country, Reserve Bank of India said in a notification.

Of the total soft loan for the country, US$60 million is to go for Baiyer-Madang road project and US$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 US$24.5 million line of credit for financing up-gradation and rehabilitation of health care system in the country.

The agreement under the line of credit is effective from June 26, 2019.

Source: https://postcourier.com.pg/india-bank-inks-us124m-loans-png-senegal/

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