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of <h1>Exim Bank Launches $10M Line of Credit to Senegal for IT Training, Prioritizing Indian Goods and Services.</h1> Exim Bank has established a USD 10 million Line of Credit (LOC) with the Government of Senegal for an Information Technology Training Project, effective from September 19, 2007. At least 85% of the goods and services financed must be sourced from India. The LOC allows for the opening of Letters of Credit up to 48 months post-contract completion for project exports and 72 months post-agreement for other contracts, with a deadline of July 1, 2013. No agency commission is payable, but exporters may use personal resources for commission payments. Authorized banks should inform exporters about the LOC details.
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