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of <h1>Exim Bank Grants $10.59M Line of Credit to Suriname for Indian Goods and Services, Valid Until 2014.</h1> Exim Bank has established a Line of Credit (LOC) of USD 10.59 million with the Government of Suriname to finance eligible goods and services, including consultancy services, from Indian companies such as BEL, HAL, and the Ordinance Factory Board. The agreement, effective from September 26, 2008, mandates that at least 85% of the contract value be sourced from India. The LOC is valid for 48 months for project exports and 72 months for supply contracts. No agency commission is payable under this LOC, but exporters can use their resources for commission payments. The circular is issued under the Foreign Exchange Management Act.
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