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of <h1>Exim Bank Sets Up $500M Credit Line for West African Development Projects with 75% Indian Sourcing Requirement.</h1> Exim Bank has established a USD 500 million Line of Credit (LoC), supported by the Government of India, with Ecowas Bank for Investment and Development. This agreement, effective from July 27, 2018, aims to finance development projects in 15 West African countries. At least 75% of the contract value must be sourced from India, while the remaining 25% can be procured internationally. Shipments under this LoC must be declared per Reserve Bank guidelines, and no agency commission is payable. Authorized banks are instructed to inform exporters about this LoC and provide further details from Exim Bank's Mumbai office or website.
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