11.  

Export-Import Bank of India (Exim Bank) has, at the behest of government of India, extended a 'line of credit' (LOC) of $15 million to the government of Equatorial Guinea under a Team-9 initiative. Team-9 is aimed at developing a special co-operation model between India and eight countries of West Africa (Burkina Faso, Chad, Cote d'Ivoire, Equatorial Guinea, Ghana, Guinea Bissau, Mali and Senegal). Under the Team-9 initiative, the Indian government provides LOCs through Exim Bank to the member countries to finance setting up of various projects by Indian companies in those countries. Exim Bank will reimburse 100 per cent of contract value to the Indian exporters, upfront upon the shipment of goods.