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of <h1>Exim Bank of India Offers $10M Credit Line to Nicaragua for Electric Substation Equipment; 75% Must Be Indian-Sourced.</h1> Exim Bank of India has established a USD 10 million Line of Credit (LOC) with the Government of Nicaragua to finance the purchase of equipment for constructing two electric substations. The agreement, effective from January 31, 2014, requires that at least 75% of the contract's value be sourced from Indian goods and services, with the remainder potentially sourced internationally. The LOC allows for Letters of Credit and disbursements up to 48 months post-project completion or by June 13, 2019, for supply contracts. No agency commission is payable, though exporters may use their own resources for such payments.
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