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Introducing the “In Favour Of” filter in Case Laws.
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<h1>Export-Import Bank of India Grants $50.40M Credit to Fiji for Sugar Plant Modernization and Expansion.</h1> The Export-Import Bank of India has provided a Line of Credit (LOC) of USD 50.40 million to the Fiji Sugar Corporation Ltd. for modernizing and expanding sugar plants in Fiji. Effective from January 12, 2006, this credit finances exports of Indian equipment, goods, and services under India's Foreign Trade Policy. The utilization period is 48 months for project exports and 72 months for other contracts. Shipments must be declared on specified forms, and no agency commission is payable. Authorized banks should inform exporters, complying with the Foreign Exchange Management Act, 1999, while facilitating commission payments if needed.