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of <h1>Exim Bank Grants $55M Credit to Congo for Cement Plant, 75% of Supplies to Be Sourced from India.</h1> Export-Import Bank of India (Exim Bank) has extended a USD 55 million Line of Credit (LOC) to the Government of the Republic of Congo for a Greenfield 600 TDP rotary kiln cement plant project. Under this agreement, at least 75% of the goods and services must be sourced from India, with the remainder potentially procured internationally. The LOC became effective on October 8, 2015, with specific timelines for letters of credit and disbursement. No agency commission is payable, but exporters may use their own resources for commission payments. Authorized banks are instructed to inform exporters and ensure compliance with the Foreign Exchange Management Act, 1999.
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