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of <h1>Exim Bank Offers $30M Credit Line to Malawi for Indian Goods and Services in Irrigation Projects.</h1> Export-Import Bank of India (Exim Bank) has established a USD 30 million Line of Credit (LOC) for the Government of Malawi, effective from October 31, 2008. This credit facilitates the export of eligible goods and services, including consultancy, from India for projects like irrigation and storage in Malawi. At least 85% of the contract value must be sourced from India, with the remaining 15% potentially sourced internationally. The LOC agreement specifies timelines for disbursement and requires compliance with Reserve Bank instructions for shipment declarations. No agency commission is payable under this LOC, but exporters may use their own resources for commission payments.
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