Exim Bank Grants $10.4M Credit to Eswatini for Disaster Recovery Site; 75% Supplies Must Be Indian-Sourced.

Exim Bank, backed by the Government of India, has extended a USD 10.40 million Line of Credit (LoC) to the Government of the Kingdom of Eswatini for constructing a Disaster Recovery Site. The agreement, effective from September 27, 2021, mandates that at least 75% of the goods and services under the contract be sourced from India, with the remaining 25% potentially sourced internationally. The LoC has a 60-month utilization period post-project completion. Exporters must declare shipments under the LoC as per Reserve Bank guidelines, and no agency commission is payable unless funded by the exporter's resources.

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