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of <h1>Export-Import Bank of India Grants $62.95M Credit to Senegal for Rice Self-Sufficiency; 75% Sourcing from India Required.</h1> The Export-Import Bank of India has established a Line of Credit (LOC) of USD 62.95 million to the Government of Senegal for financing the Rice Self-Sufficiency Programme. This agreement, effective from January 1, 2015, mandates that at least 75% of the goods and services, including consultancy services, must be sourced from India, with the remaining 25% potentially sourced from outside India. The LOC allows for Letters of Credit and Disbursement to be opened within 48 to 72 months, depending on the contract type. No agency commission is payable, but exporters can use their own resources for commission payments.
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