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of <h1>Exim Bank Offers $50 Million Credit Line to Zambia for Hydro Project; 85% Sourcing Requirement from India.</h1> Exim Bank has established a USD 50 million Line of Credit (LOC) with the Government of Zambia to finance Indian goods and services, including consultancy, for the Itezhi-Tezhi hydro power project. At least 85% of the contract value must be sourced from India, with the remaining 15% potentially sourced internationally. The LOC is effective from March 4, 2010, with specific deadlines for Letters of Credit and disbursement. No agency commission is payable, but exporters can use their resources for commission payments. The circular is issued under FEMA regulations and advises banks to inform exporters about the LOC details.
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