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of <h1>Exim Bank Sets $18.08M Credit for Chad's Vet Pharma Plant; 75% Sourcing from India Required.</h1> Exim Bank has established a USD 18.08 million line of credit with the Government of Chad to finance a veterinary pharmaceutical manufacturing plant. Under the agreement, 75% of goods and services must be sourced from India, with the remaining 25% from outside India. The credit agreement became effective on June 30, 2015, with specific timelines for letters of credit and disbursement. No agency commission is payable, but exporters can use their resources for commission payments. Authorized banks are instructed to inform exporters about the line of credit and compliance with the Foreign Exchange Management Act, 1999.
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