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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Exim Bank Sets Up $15M Credit Line with Mali for Agriculture Projects, Requires 85% Indian Sourcing.</h1> Exim Bank has established a USD 15 million Line of Credit (LOC) with the Government of the Republic of Mali to fund agriculture and food processing projects. This agreement, effective from January 18, 2010, mandates that 85% of the goods and services be sourced from India, while the remaining 15% may be procured internationally. The LOC is governed by the Foreign Exchange Management Act, 1999, and requires compliance with Reserve Bank instructions for shipment declarations. No agency commission is payable, but exporters can use foreign currency accounts for commission payments. Authorized banks should inform exporters of LOC details available from Exim Bank.
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