The credit will help finance a compost production unit, a rural electrification plant, a livestock feed plant and a spinning mill, the bank said in a statement issued.
The Exim Bank today said it has extended a line of credit worth $40.32 million to the central African nation of Chad for development projects.
The credit will help finance a compost production unit, a rural electrification plant, a livestock feed plant and a spinning mill, the bank said in a statement issued.
This is the second time the bank has extended credit to the African nation under instructions of Indian government, it said, adding that $50 million was extended earlier for setting up a cotton yarn plant, steel billet plant and rolling mill, a plant for assembly of agricultural equipment and a bicycle plant.
"Under the LoCs, Exim Bank reimburses 100 per cent of contract value to the Indian exporter, upfront, upon the shipment of goods/provision of service," it said.