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of <h1>Exim Bank Sets Up $170M Line of Credit for Guinea Water Project, 75% Supplies to be Indian-Origin.</h1> Exim Bank, supported by the Government of India, has established a USD 170 million Line of Credit (LoC) with the Government of the Republic of Guinea to enhance the drinking water supply in Grand Conakry-Horizon 2040. The agreement, effective from August 11, 2021, stipulates that 75% of the goods and services must be sourced from India, with a 60-month utilization period from the project's scheduled completion. Exporters must declare shipments per Reserve Bank instructions, and no agency commission is payable under this LoC. Authorized banks are advised to inform exporters and provide further details from Exim Bank.
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