India Exim Bank extended Buyer’s Credit facility of USD 164.69 mn to finance project envisaging construction of 400 Kv Transmission Line and Associated Substations in Cameroon

by Suman Gupta

Export-Import Bank of India (India Exim Bank) on May 11, 2022 executed a Buyer’s Credit Agreement with the Government of the Republic of Cameroon for construction of 400kV Transmission Line along with associated sub-stations project in Cameroon, valued at USD 173.36 mn. This funding is proposed to be provided under the Buyer’s Credit program under the National Export Insurance Account (NEIA) Scheme. The project inter alia is expected to improve the socio-economic well-being, with supply of electricity to the population of more than 8 mn in the northern part of Cameroon. The Buyer’s Credit Agreement was signed in Yaoundé, Cameroon. The project is proposed to be executed by Kalpataru Power Transmission Ltd. (KPTL).

India Exim Bank had earlier also supported another Transmission Line project in Cameroon, under the NEIA scheme. Further, India Exim Bank has supported various projects in water, power, railway and road sectors in various countries viz. Ghana, Zambia, Mauritania, Cote d’Ivoire, Madagascar, Uganda, Tanzania and Senegal in Africa, Maldives and Sri Lanka in Asia and Suriname in Latin America under the NEIA scheme to promote the project exports from India. The NEIA scheme is a unique financing mechanism that provides a safe mode of financing option to the Indian Project Exporters backed by cover from NEIA Trust.