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Exim Bank of India has approved a loan of US$60M to the Government of Rwanda to finance construction of the Nyabarongo hydro power project in Rwanda.
The bank had earlier extended a line of credit of US$20M as a first tranche to part-finance construction of the project, which is being executed by Bharat Heavy Electricals and Angelique International.
The loans will be used to finance at least 85% of the total contract value through sourcing of goods and services from India.
News date: 28/01/2010