India's Exim Bank helps build African capacities

Last Updated: Sunday, May 12, 2013 - 19:14

Accra: The Indian government, through the Exim Bank of India, is assisting several African countries in building their physical and social infrastructure that is worth an estimated $260 million.

The projects include roads, water and agricultural facilities and are intended to improve the the continent's economies and lives of the people, the Exim Bank said in a report.

For example, the bank is financing a farming and quality control project to cultivate maize and sorghum valued at $13.095 million in Togo in West Africa. In addition, the bank has provided a loan of $15 million for financing an electrification project in 39 rural localities all over the country.

In North Africa, Mauritania has secured $4.896 million to finance the manufacturing, supply and testing of three drilling workshops and accessories as well as PVC tubing, solar powered pumping equipment to support the supply of potable drinking water in some parts of the country.

Another $11.30 million is also to support an agricultural development project.

Mauritania is also to get another $21.80 million to finance the control and monitoring of the construction of turnkey dairy plant with a capacity to produce 30,000 litres of milk per day to be constructed in the Nema and Hoch Echargui regions. The project has three collection centres.

Also, the bank is providing another two tranches of financing to support a water project valued at $4.896 million and an agriculture development project worth $11.30 million.

In Tanzania in East Africa, the bank is supporting the construction of the Mlandzi-imara Water Transmission Main and the Kibamba Reservoir valued at $178 million.

IANS

First Published: Sunday, May 12, 2013 - 19:14

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