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of <h1>Exim Bank of India Opens $30M Line of Credit to Sierra Leone for Infrastructure; 75% Sourcing from India Required.</h1> Exim Bank of India has established a Government of India-supported Line of Credit (LoC) of USD 30 million to the Government of Sierra Leone to finance land and infrastructure development, including water management and provision of tractors. At least 75% of the contract's value must be sourced from India, with the remaining 25% potentially sourced externally. The agreement became effective on July 27, 2021, with a utilization period of 60 months post-project completion. Exporters can pay agency commissions using their resources. Authorized banks are instructed to inform exporters and provide details from Exim Bank's Mumbai office or website. The circular is issued under FEMA regulations.
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