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of <h1>Exim Bank of India Grants $50M Credit to Zambia for Health Infrastructure, Prioritizing Indian Goods and Services.</h1> Exim Bank of India has established a USD 50 million Line of Credit (LOC) with the Government of the Republic of Zambia, effective from June 8, 2012, following an agreement signed on March 29, 2012. This credit is designated for financing eligible goods and services, including consultancy, for pre-fabricated health posts in Zambia. At least 75% of the contract value must be sourced from India, with the remainder potentially sourced internationally. The LOC stipulates specific timelines for opening Letters of Credit and disbursement. No agency commission is payable, and compliance with FEMA regulations is required.
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