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of <h1>Exim Bank Grants $30M Line of Credit to Togo for Rural Electrification, Prioritizing Indian Goods and Services.</h1> Exim Bank has established a USD 30 million Line of Credit (LOC) with the Government of Togo to finance a rural electrification project across 150 localities. The agreement, effective from August 21, 2014, mandates that at least 75% of the goods and services must be sourced from India, with the remaining 25% potentially sourced internationally. The LOC allows for the opening of Letters of Credit and disbursement within 48 to 72 months, depending on the contract type. No agency commission is payable under this LOC, but exporters may use their resources for commission payments. The circular is issued under FEMA regulations.
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