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of <h1>Exim Bank Offers $20M Line of Credit to Myanmar for Indian Goods, Including Wire Factory Setup.</h1> Exim Bank has established a USD 20 million Line of Credit (LOC) with Myanma Foreign Trade Bank in Myanmar to finance eligible goods and services from India, including setting up an Aluminum Conductor Steel Reinforced (ACSR) wire manufacturing factory. At least 85% of the contract value must be sourced from India. The Credit Agreement, effective from September 19, 2008, allows for Letters of Credit and Disbursement within 48 to 72 months, depending on the contract type. No agency commission is payable under the LOC. Compliance with Reserve Bank instructions and FEMA regulations is required.
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