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of <h1>Exim Bank of India Grants $10.4 Million LOC to Suriname for Water Supply Project; 85% Sourcing from India Required.</h1> Exim Bank of India has extended a Line of Credit (LOC) of USD 10.4 million to the Government of Suriname for financing eligible Indian goods and services, including consultancy, for a Water Supply Project. The agreement mandates that at least 85% of the contract value must be sourced from India, with the remainder potentially procured from outside India. The Credit Agreement is effective from February 13, 2008, with specific timelines for Letters of Credit and disbursement. No agency commission is payable under the LOC, but exporters can use their resources for commission payments. Compliance with FEMA regulations is required.
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