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of <h1>Exim Bank India Sets Up $82M Credit Line with DR Congo for Ketende Hydro Project; 75% Sourcing from India Required.</h1> Exim Bank of India has established a USD 82 million Line of Credit (LOC) with the Government of the Democratic Republic of Congo to finance the Ketende Hydro-electric Project. The agreement, effective from October 8, 2014, mandates that at least 75% of goods and services must be sourced from India, with the remainder potentially sourced internationally. The LOC allows for a 48-month period for project exports and a 72-month period for supply contracts. No agency commission is payable, but exporters can use personal funds for commission payments. Banks must inform exporters of these terms and compliance requirements under FEMA.
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