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Debt Financing

Exim Bank lends $35-M to Kalpataru for power project in Senegal

Economic Times  

The Export Import (Exim) Bank of India has extended a USD 35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal. The buyer's credit facility was extended under the National Export Insurance Account (NEIA) scheme, which provides a safe mode of financing option to Indian project exporters backed by cover from NEIA Trust. The bank signed a credit agreement with the Ministry of Economy, Planning and Co-operation of the Republic of Senegal for the purpose of construction and installation of 225 kV overhead transmission line from Tanaff to Ziguinchor (92 km) and bay extensions. The project will enable securing energy supply in the southern region of Senegal.