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of <h1>Exim Bank Sets Up $20M Trade Finance Facility with Korea Development Bank for Indian Exports to South Korea.</h1> The Export Import Bank of India (Exim Bank) has established a US$ 20 million uncommitted trade finance facility with Korea Development Bank, South Korea, effective May 31, 2000. This facility is for financing 100% of the export value of eligible goods from India to South Korea, covering a wide range of products including raw materials, agricultural goods, and industrial machinery. The facility is indefinite and can be terminated by either party without notice. Payments are made on an 'at sight' basis, with letters of credit opened by Korea Development Bank. Terms align with the Uniform Customs and Practices for Documentary Credits (UCP 500).
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