NDTV and the Economic Times are among Indian media houses that yesterday reported that India’s Exim Bank has signed an agreement with the Guyana government to provide an India-supported line of credit (LoC) of USD 2.50 million for the installation of a solar photovoltaic power plant at Cheddi Jagan International Airport, Timehri.
The export of eligible goods and services from India would be allowed, subject to their eligibility under the Foreign Trade Policy of the Indian government and whose purchase may be agreed to be financed by the Export-Import Bank of India under the agreement, the media reported the Reserve Bank of India (RBI) as stating.
“Out of the total credit by Exim Bank under the agreement, goods, works and services of the value of at least 75 per cent of the contract price shall be supplied by the seller from India, and the seller may procure the remaining 25 per cent of goods and services for the purpose of the eligible contract from outside India,” RBI said.
The agreement was signed in February, the reports said.
