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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Exim Bank's $100M Line of Credit to Papua New Guinea for Road Projects Under FEMA Rules.</h1> Exim Bank, supported by the Government of India, has established a Line of Credit (LoC) of USD 100 million with the Government of Papua New Guinea to fund infrastructure projects, specifically the Bayer-Madang and Hoskins-Kimbe road projects. At least 75% of the contract value must comprise goods, works, and services from India, with the remaining 25% potentially sourced externally. The agreement became effective on June 25, 2019, with a 60-month utilization period. No agency commission is payable, but exporters can use their resources for commission payments. The circular is issued under FEMA regulations.
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