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of <h1>Exim Bank of India Offers $64.07M Credit to Myanmar for Power Grid Projects, Boosting Indian Exports.</h1> Exim Bank of India has established a Line of Credit (LOC) of USD 64.07 million with Myanma Foreign Trade Bank, Myanmar, to finance the export of eligible goods and services, including consultancy services from India. This credit will support the construction of three transmission lines in Myanmar by Power Grid Corporation of India. At least 85% of the contract value must be sourced from India, with the remainder potentially sourced internationally. The LOC is effective from September 19, 2008, with specific deadlines for Letters of Credit and disbursement. No agency commission is payable, but exporters may use their resources for commission payments.
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