The Export-Import Bank of India (India Exim) has extended a line of credit for US$45mn to the government of Mali, under its ‘Team-9 Initiative’, a special cooperation scheme between India and eight West African countries. Alongside Mali, Burkina Faso, Chad, Cote d’Ivoire, Equatorial Guinea, Ghana, Guinea Bissau and Senegal also benefit from the initiative.

Signed in New Dehli by Prabhakar Dalal, chief general manager, on behalf of India Exim and Abou Bakar Traore, minister of economy and finance from the government of Mali, the line of credit forms the second and last tranche of a financing package for Mali. In total US$75mn has been extended to the African nation to support an inter-country project involving electricity transmission and distribution between Cote d ‘Ivoire and Mali.

India Exim has previously lent lines of credits to Mali totalling US$47.62mn to support rural electrification projects, and the acquisition of railway coaches and locomotives from India.