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of <h1>Exim Bank and SBM Mauritius Set Up $500M Credit Line for Infrastructure, Promoting Indian Goods and Services.</h1> Exim Bank, supported by the Government of India, has established a USD 500 million Line of Credit (LoC) with SBM (Mauritius) Infrastructure Development Company Ltd. This agreement, effective from October 3, 2017, facilitates financing for infrastructure projects in Mauritius through Redeemable Preference Shares. The LoC mandates that at least 75% of goods and services be sourced from India, with the remainder possibly procured internationally. Shipments must comply with Reserve Bank regulations, and no agency commission is payable under this LoC. Authorized banks are instructed to inform exporters of these terms and advise them to obtain detailed information from Exim Bank.
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