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<h1>Exim Bank Grants $11M Line of Credit to Senegal for Women's Program and Vehicle Purchase, Effective Feb 2007.</h1> Exim Bank has established a Line of Credit (LOC) of USD 11 million with the Government of Senegal, effective from February 20, 2007, to finance Indian exports supporting a women poverty alleviation program and the acquisition of 400 vehicles. At least 85% of the credit must be used for purchasing eligible Indian goods. The terminal utilisation period is 48 months for project exports and until January 14, 2013, for other contracts. Exports under this LOC must comply with Reserve Bank instructions, and no agency commission is payable, though exporters can use their resources for commission payments. The circular falls under FEMA regulations.