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of <h1>Exim Bank of India Grants $4.5B Credit to Bangladesh for Social, Infrastructure Projects; 75% Sourcing from India Required.</h1> Exim Bank of India has extended a USD 4.50 billion Line of Credit (LOC) to the Government of Bangladesh to fund social and infrastructure projects and consultancy services imported from India. The agreement, effective from February 26, 2018, mandates that at least 75% of goods and services under the contract be sourced from India, with exceptions for civil construction projects. Export shipments must comply with Reserve Bank guidelines, and no agency commission is payable under this LOC. Authorized banks should inform exporters of these terms, and the circular is issued under the Foreign Exchange Management Act, 1999.
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