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of <h1>Exim Bank Grants $92.18M Line of Credit to Tanzania for Zanzibar Water System with 75% Indian Sourcing Requirement.</h1> Exim Bank has provided a USD 92.18 million Line of Credit (LOC) to the Government of Tanzania for the rehabilitation and improvement of Zanzibar's water supply system. The agreement, effective from February 20, 2017, requires that at least 75% of the goods and services be sourced from India, with the remaining 25% potentially procured from outside India. Shipments must comply with Reserve Bank instructions, and no agency commission is payable under the LOC. Authorized banks are advised to inform exporters about the LOC details and ensure compliance with the Foreign Exchange Management Act, 1999.
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