The Export-Import Bank of India (EXIM Bank) 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 photo voltaic power plant, the Reserve Bank of India said on Monday.
While the deal was dated February 29, 2024, the agreement under the Line of Credit is effective from June 24, 2024, the RBI said. Under the Line of Credit, the last date for disbursements will be 48 months after the completion of the project, the RBI said.
The solar photo voltaic power plant will be set up at the Cheddi Jagan International Airport in Guyana.
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.
