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of <h1>Exim Bank India Grants $40M Credit to Maldives for Sports Infrastructure; 75% Sourcing Must Be from India.</h1> Exim Bank of India has established a USD 40 million Line of Credit (LoC) with the Government of the Republic of Maldives to support sports infrastructure development. The agreement, effective from February 8, 2022, mandates that at least 75% of goods and services under the contract must be sourced from India, with the remainder potentially sourced internationally. The LoC has a utilization period of 60 months post-project completion. Export shipments must comply with Reserve Bank guidelines, and no agency commission is payable, though exporters may use personal resources for commission payments. Authorized banks are instructed to inform exporters of these details.
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