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of <h1>India Extends $66.60M Credit to Rwanda for Road Project, Promoting Indian Goods and Services.</h1> Exim Bank, supported by the Government of India, has extended a USD 66.60 million Line of Credit to the Government of Rwanda to finance the Base-Butaro-Kidaho Road Project. The agreement, effective from April 2, 2019, stipulates that at least 75% of the goods and services should be sourced from India, with the remainder potentially sourced internationally. Export shipments must comply with Reserve Bank guidelines, and no agency commission is payable under this credit line. Authorized banks are instructed to inform exporters about the LoC details, ensuring adherence to the Foreign Exchange Management Act, 1999.
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