Mali gets $100m Exim Bank credit from India to expand energy sector

Mali has secured a $100 million credit from India’s Exim Bank to expand its energy sector.

The credit would be used for setting up transmission lines from Cote D’ivoire, Mali’s neighbourly country in its south, reports the Economic Times.

The agreement was signed January 11, 2012 in New Delhi, India between both parties.

The Economic Times says the agreement for the financial assistance to Mali was signed between Exim Bank’s Chairman and Managing Director T C A Ranganathan and Mali’s Minister for Foreign Affairs and International Cooperation Soumeylou Boubeye Maiga.

This is the second time that India is extending a credit line to Mali. The first was $125 million in 2008.

Mali is Africa’s third largest gold producer after South Africa and Ghana.

By Ekow Quandzie