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of <h1>Exim Bank Offers $25M Credit to DR Congo for Indian Goods and Services for Pump Installation Projects.</h1> Exim Bank has established a USD 25 million Line of Credit (LOC) with the Government of the Democratic Republic of Congo to finance eligible goods, machinery, equipment, and services from India for installing hand and submersible pumps. At least 85% of the contract value must be sourced from India, with the remaining 15% potentially procured externally. The Credit Agreement, effective January 20, 2010, allows for Letters of Credit and Disbursement within 48 to 72 months, depending on the contract type. No agency commission is payable under this LOC, and compliance with the Foreign Exchange Management Act is required.
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