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of <h1>Exim Bank of India Launches $15M Credit Line to Benin for Tractor Assembly and Equipment Manufacturing.</h1> Exim Bank of India has established a USD 15 million Line of Credit (LOC) with the Government of the Republic of Benin, effective from February 28, 2013, following an agreement executed on August 23, 2012. This LOC is intended to finance the export of eligible goods, services, machinery, and equipment from India for a tractor assembly plant and farm equipment manufacturing unit in Benin. At least 75% of the contract value must be sourced from India, with the remainder potentially procured internationally. The LOC's terms specify deadlines for opening Letters of Credit and disbursement, and no agency commission is payable under this arrangement.
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