The Export-Import Bank of India (India Exim) has extended a US$20mn line of credit the government of Rwanda to finance the construction of a hydro power project. It is the first tranche of a US$80mn line of credit approved by the Indian government to Rwanda, and is the first line of credit ever extended to the African country.


Under the terms of the agreement, India Exim will pay 100% invoice value upfront to Indian exporters upon shipment of machinery and provision of services from India to the power project.


Following the signing of this agreement, India Exim now has 80 lines of credit in place with credit commitments amounting US$2.7bn.