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of <h1>Exim Bank Offers $166.23M Credit to Ethiopia for Sugar Industry Development; 85% Goods to Be Sourced from India.</h1> Exim Bank has established a Line of Credit (LOC) of USD 166.23 million with the Government of the Federal Democratic Republic of Ethiopia to finance goods and services, including consultancy, from India for the development of Ethiopia's sugar industry. At least 85% of the contract value must be sourced from India, with the remainder potentially sourced internationally. The LOC is effective from June 1, 2009, with specific deadlines for Letters of Credit and disbursement. Shipments must comply with Reserve Bank instructions, and no agency commission is payable under the LOC. Authorized banks must inform exporters of these details.
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