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of <h1>Exim Bank Sets $20M Line of Credit for Mozambique's Water Drilling Projects, 85% Sourcing from India Required.</h1> The Export-Import Bank of India (Exim Bank) has established a Line of Credit (LOC) of USD 20 million with the Government of Mozambique to finance eligible goods and services, including consultancy, related to water drilling technology and equipment from India. At least 85% of the contract value must be sourced from India. The Credit Agreement, effective from August 26, 2008, allows for Letters of Credit and disbursements up to 72 months from the execution date. No agency commission is payable, but exporters may use their resources for commission payments. Banks are advised to inform exporters about the LOC details.
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