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of <h1>Exim Bank of India Provides $45M Credit to Vietnam for Nam Chien Hydro Project; 85% Sourcing from India Required.</h1> Export-Import Bank of India has established a USD 45 million Line of Credit with the Government of Vietnam to finance eligible goods and services, including consultancy, for the Nam Chien Hydro Power Project. At least 85% of the contract value must be sourced from India, with the remainder potentially sourced externally. The credit agreement became effective on February 18, 2008, with specific timelines for Letters of Credit and disbursement. No agency commission is payable, but exporters can use their own resources for commissions. Banks are advised to inform exporters about the credit details, adhering to the Foreign Exchange Management Act regulations.
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