Exim Bank extends LOC of USD 20.10 Mn to government of Nicaragua

A Line of Credit (LOC) of USD 20.10 million has been extended by the Export-Import Bank of India (Exim Bank) on behalf of the Government of India, to the Government of the Republic of Nicaragua. This LOC has been extended for reconstruction of Aldo Chavarria Hospital in the Republic of Nicaragua.

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With the signing of the above LOC Agreement for reconstruction of hospital, the total number of LOCs extended by Exim Bank to the Republic of Nicaragua comes to four, comprising projects which includes supply of equipment for building two substations, construction of transmission lines, building new substation, expansion of the existing substations and reconstruction of a hospital. The total value of the 4 LOCs is USD 87.63 million.

Important takeaways for all competitive exams:

  • Managing Director of Exim Bank: David Rasquinha.
  • Capital of Nicaragua: Managua; Currency: Nicaraguan córdoba.

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