India Grants $2.5M Credit to Guyana for Solar Plant, 75% Sourcing Mandate from India, Effective June 2024.

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....Export-Import Bank of India provided Government of India supported Line of Credit (LoC) of USD 2.50 million to Government of Co-operative Republic of Guyana for installation of Solar Photo Voltaic Power Plant at Cheddi Jagan International Airport. Export of eligible goods and services from India allowed, subject to Foreign Trade Policy. At least 75% contract value to be supplied from India, remaining 25% may be procured from outside India. LoC effective from June 24, 2024, with 48 months disbursement period after project completion. Exports under LoC to be declared as per RBI instructions. No agency commission payable, but exporter may use own resources for commission payment after export realization. Authorised Dealer banks to advise exporters accordingly.....