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of <h1>Exim Bank's $268M Credit Line to Tanzania for Lake Victoria Pipeline: 75% Indian Sourcing Required, No Agency Commission.</h1> Export-Import Bank of India (Exim Bank) has established a Line of Credit (LOC) of USD 268.35 million to the Government of United Republic of Tanzania, effective from October 7, 2015. The LOC aims to finance eligible goods, machinery, equipment, and services from India for the Lake Victoria pipeline extension project. At least 75% of the contract value must be sourced from India, while the remaining 25% can be procured from outside India. The agreement includes specific timelines for letters of credit and disbursement, and no agency commission is payable under this LOC. The circular is issued under the Foreign Exchange Management Act, 1999.
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