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of <h1>Exim Bank of India Provides $500 Million Credit to Tanzania for Water Projects; 75% Goods from India Required.</h1> Exim Bank of India has established a USD 500 million Line of Credit (LoC) agreement with the Government of Tanzania to finance water supply projects. The agreement, effective from September 18, 2018, mandates that at least 75% of the goods and services under the contract be sourced from India, with the remaining 25% potentially procured from outside India. The LoC has a terminal utilization period of 60 months post-project completion. Exporters are instructed to declare shipments under this LoC in Export Declaration Form, and no agency commission is payable. Compliance with the Foreign Exchange Management Act is required.
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