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of <h1>India's Exim Bank Grants $215.68M Credit to Malawi for Water Supply and Development Projects.</h1> Exim Bank, supported by the Government of India, has extended a Line of Credit (LoC) of USD 215.68 million to the Government of the Republic of Malawi for financing drinking water supply and other development projects. The agreement, effective from September 9, 2020, mandates that at least 75% of the contract value must be sourced from India, with the remaining 25% potentially sourced internationally. The LoC has a utilization period of 60 months post-project completion. Exporters must declare shipments under the LoC, and no agency commission is payable, though exporters can use their resources for commission payments.
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