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of <h1>Exim Bank of India Grants $23.50M Credit to Malawi for Water Supply Project, 75% Sourcing from India Required.</h1> Exim Bank of India has established a USD 23.50 million Line of Credit (LOC) with the Government of Malawi for constructing a water supply system from Likhubula river to Blantyre. The agreement, effective from February 20, 2017, mandates that at least 75% of the goods and services be sourced from India, with the remainder potentially from outside India. Shipments must be declared on the Export Declaration Form per Reserve Bank instructions. No agency commission is payable under the LOC, but exporters can use their own funds for commission payments. Authorized banks should inform exporters of these details.
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