Exim Bank extends $180 m credit to Ghana for sugarcane development and other projects


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Mumbai, Apr 10 (PTI) The Exim Bank has extended two lines of credit (LoCs) worth USD 180 million to two projects in Ghana.

The bank has given a USD 30-million credit to a rehabilitation and upgrade of potable water system in Yendi, and USD 150 million to strengthen agriculture mechanization service centres across the West African nation, a statement said Tuesday.

With these agreements, the Exim Bank has so far extended nine LoCs to Ghana worth USD 388.26 million.

The bank has extended lines of credit to Ghana for projects which included rural electrification, agriculture and transportation, construction of a new presidential office, railheads and agro and  fish processing plants, waste management support, sugarcane development and irrigation.

The bank has now in place 248 LoCs, covering 63 countries in Africa, Asia, Latin America and  the Commonwealth of Independent States countries, with credit commitments of around USD 24.46 billion.

The West African nation on the Gulf of Guinea is known for diverse wildlife, old forts and secluded beaches, such as at Busua, colonial buildings and castles-turned-museums that serve as testimonials to the slave trade.

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