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of <h1>India Grants Suriname $10M Credit for Indian Goods & Services Under 2003 Agreement, Managed by RBI.</h1> The Indo-Suriname Credit Agreement, dated March 17, 2003, involves a USD 10 million line of credit extended by the Government of India to the Government of Suriname. This credit is intended for Suriname to import Indian-manufactured capital goods, spare parts, accessories, consultancy services, and project exports. The agreement stipulates that 90% of the f.o.b. value will be financed through the credit, with the remaining 10% paid by the importer in foreign currency. Contracts must be approved by both governments and completed by specified deadlines. The Reserve Bank of India oversees the implementation under the Foreign Exchange Management Act, 1999.
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