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<h1>Exim Bank India Establishes $19M Credit Line with Senegal for Fisheries Project; 75% Sourcing from India Required.</h1> Exim Bank of India has established a USD 19 million Line of Credit (LOC) with the Government of Senegal to finance the Fisheries Development Project. The agreement, effective from June 26, 2013, requires at least 75% of goods and services to be sourced from India, with the remainder potentially from outside India. The LOC allows for Letters of Credit and Disbursement to be opened within 48 months for project exports and 72 months for supply contracts. No agency commission is payable, but exporters can use their resources for commission payments. The circular is issued under the Foreign Exchange Management Act, 1999.