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Exim Bank LOC for GabonExim Bank LOC for Gabon

Export-Import Bank of India has extended a Line of Credit $67.19 million to the government of the Republic of Gabon, for rehabilitation and upgradation of the broadcasting facilities in the country. The LOC agreement to this effect was signed in Libreville, Gabon by Amit Kumar, resident representative of Exim Bank’s Dakar (Senegal) office and Luc Oyoubi, minister of economy, employment and sustainable development, government of Republic of Gabon. This is the second LOC extended by Exim Bank to Gabon at the behest of the government of India. The Republic of Gabon is located on the western front of Africa and is surrounded by Equatorial Guinea, Republic of Congo and Cameroon. Major export items from India to Republic of Gabon are meat and preparations, machinery and instruments, primary and semi-finished iron and steel, manufactures of metals and cotton yarn fabrics. Exim Bank will reimburse 100% of contract value to the Indian exporters, upfront upon shipment of goods. The LOC will be used for sourcing of goods and services from India. Exim Bank has now in place 183 Lines of Credit, covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over $10.13 billion, available for financing exports from India.

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