Mumbai, Jul 8 (PTI) Exim Bank has inked an agreement with the Guyana government to extend an India-supported line of credit (LoC) of USD 2.50 million for the installation of a solar photo voltaic power plant at Cheddi Jagan International Airport in Guyana.

The export of eligible goods and services from India would be allowed, subject to their eligibility under the Foreign Trade Policy of the Indian government and whose purchase may be agreed to be financed by the Export-Import Bank of India under the agreement, the RBI said.

Also Read | How To Survive a Stampede? Essential Skills and Key Survival Tips for Protecting Yourself in a Crowd (Watch Videos).

"Out of the total credit by Exim Bank under the agreement, goods, works and services of the value of at least 75 per cent of the contract price shall be supplied by the seller from India, and the remaining 25 per cent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India," the Reserve Bank of India (RBI) said.

The agreement was signed in February.

Also Read | Shillong Teer Results Today, July 08 2024: Know Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

The agreement under the line of credit is effective from June 24, 2024. Under the LoC, the last date for disbursement will be 48 months after the scheduled completion date of the project.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)