India Exim Bank and EBID Forge New $40 Million Trade Bridge with West Africa
India Exim Bank and ECOWAS Bank for Investment and Development have signed a $40 million credit line agreement. This move aims to forge stronger business connections between India and African markets, focusing on sectors like energy and infrastructure to bolster economic growth across the region.
- Country:
- India
The India Exim Bank and the ECOWAS Bank for Investment and Development (EBID) have sealed a significant $40 million commercial credit line agreement, a pivotal move designed to boost Indian entry into African markets, thereby strengthening bilateral ties.
Trupti Mhatre, General Manager of India Exim Bank, emphasized that the agreement will address Sierra Leone's energy needs, broadening the collaborative tapestry between these two financial institutions that dates back to 2006.
Dr. George Agyekum Donkor, President of EBID, highlighted the crucial need for investment in sectors such as energy and infrastructure, underscoring the potential for Indian businesses to play a critical role in West Africa's economic development.
(With inputs from agencies.)
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