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EXIM Bank to Grant Loan for Kalpataru Power Transmission Senegal Project

Published on July 13, 2021
Current Context: The Export-Import (Exim) Bank of India has granted a loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal.
EXIM Bank to Grant Loan for Kalpataru Power Transmission Senegal Project
  • A loan of USD 35.26 million was granted for the same.
  • The credit support was granted under National Export Insurance Account (NEIA) scheme. The scheme offers a safe mode of financing option to Indian project exporters with support from NEIA Trust.
  • The loan agreement was signed between Exim Bank and the Ministry of Economy, Planning and Co-operation of the Republic of Senegal to construct and install a 225 kV overhead transmission line from Tanaff to Ziguinchor in Senegal. It will be approx. distance of 92 km.
  • Static Part: 
    • HQ of Exim Bank: Mumbai
    • CEO of Exim Bank: David Rasquinha
    • Capital of Senegal: Dakar
    • Currency of Senegal: West African CFA Franc

Question: 

Q.1 Which entity to give a loan of USD 35.26 million for the power transmission project being executed by Kalpataru Power Transmission in Senegal?
a. World Bank
b. Asian Development Bank
c. New Development Bank
d. Exim Bank
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