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of <h1>Export Credit Line: India Provides $700M Financing for Mongolia's Crude Oil Refinery Infrastructure Development</h1> Exim Bank of India established a USD 700 million line of credit to Mongolia's government for constructing a crude oil refinery plant. The agreement, effective May 06, 2025, allows export of eligible goods and services from India. Shipments must be declared per Reserve Bank instructions, with no agency commission payable. Authorized dealer banks can facilitate remittances after full export value realization, subject to existing foreign exchange regulations.
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