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Exim Bank Extended Soft Loan Support to the Guinea

Published on August 22, 2021
Current Context: The Exim Bank has extended soft loans support from the Government of India to the Government of Guinea with an aim to financially support various projects.
Exim Bank Extended Soft Loan Support to the Guinea
  • The Exim Bank has provided a soft loan worth USD 210.73 million to Guinea.
  • The loan amount will be utilised for the projects like drinking water projects, the construction of hospitals and solar projects.
  • The loan amount consists of USD 170 million Line of Credit for the drinking water supply project of Grand Conakry-Horizon 2040 in Guinea.
  • The loan amount of USD 20.51 million will be used to construct and upgrade hospitals in the country.
  • The Line of Credit amount of USD 20.22 million will be used for two solar projects in the country.
  • Static Part: 
    • HQ of Exim Bank: Mumbai
    • MD of Exim Bank: David Rasquinha
    • Capital of Guinea: Conakry
    • Currency of Guinea: Guinean Franc

Question: 

Q.1 Which financial organisation provided a soft loan worth USD 210.73 million to Guinea to support various projects like drinking water projects, construction of hospitals and solar projects?
a. World Bank
b. Exim Bank
c. New Development Bank
d. Asian Development Bank
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