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of <h1>Exim Bank's $25M Line of Credit to Senegal for Electrification and Fishing Projects; 85% Indian Goods Required.</h1> Exim Bank has established a USD 25 million Line of Credit (LOC) with the Government of Senegal to fund eligible goods and services from India for two projects: Rural Electrification (USD 15 million) and Fishing Industry development (USD 10 million). The agreement mandates that at least 85% of the contract value must involve Indian goods and services, with the remainder potentially sourced internationally. Effective from January 2, 2009, the LOC allows for Letters of Credit and Disbursement within 48 to 72 months, depending on the contract type. No agency commission is payable, but exporters can use personal resources for commission payments.
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