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of <h1>Exim Bank of India Sets $42.61M Credit Line for Benin to Upgrade Water Systems in 69 Villages.</h1> Exim Bank of India has established a USD 42.61 million Line of Credit (LOC) with the Government of Benin to finance the upgrade of water supply systems in 69 villages. The agreement, effective from December 16, 2013, mandates that at least 75% of the goods and services be sourced from India, with the remainder procured internationally. The LOC will remain open for Letters of Credit and disbursements up to 72 months from the agreement's execution date. No agency commission is payable under this LOC, but exporters may use their own resources for such payments. The circular is issued under the Foreign Exchange Management Act.
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