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of <h1>Exim Bank Sets Up $10M Credit Lines with Zambia and Poland for Indian Exports Under FEMA 1999.</h1> Export-Import Bank of India (Exim Bank) has established Lines of Credit (LOC) of USD 10 million each with the Government of Zambia and Bank Gospodarstwa Krajowego (BGK Bank), Poland. These agreements, effective from March 2004, finance the export of eligible Indian goods and services to Zambia and Poland. The deadlines for opening Letters of Credit and disbursements are set for March and September 2006, respectively. No agency commission is payable for exports under these LOCs, except in specific cases requiring after-sales service, subject to approval. Exporters should seek full details from Exim Bank. This circular is issued under the Foreign Exchange Management Act, 1999.
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