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of <h1>Exim Bank Offers $10M Credit to Seychelles for Indian Sourced Goods, Part of $50M Agreement.</h1> Exim Bank, supported by the Government of India, has extended a USD 10 million Line of Credit (LoC) to the Government of the Republic of Seychelles as part of a larger USD 50 million agreement. This credit, effective from June 24, 2019, is intended for financing the procurement of goods and projects in Seychelles, with at least 75% of the contract value sourced from Indian exporters. The LoC allows for a 48-month utilization period post-project completion, and shipments must comply with Reserve Bank instructions. No agency commission is payable under this LoC, and authorized banks are advised to inform exporters of the details.
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