Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of Independent State of Papua New Guinea

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....pendent State of Papua New Guinea Export-Import Bank of India (Exim Bank) has entered into an agreement dated January 17, 2019 with the Government of the Independent State of Papua New Guinea for making available to the latter, a Government of India supported Line of Credit (LoC) of USD 100 million (USD One Hundred Million only) for the purpose of financing infrastructure related projects (USD 60....

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....eement under the LoC is effective from June 25, 2019. Under the LoC, the terminal utilization period is 60 months from the scheduled completion date of the project. 3. Shipments under the LoC shall be declared in Export Declaration Form as per instructions issued by the Reserve Bank from time to time. 4. No agency commission is payable for export under the above LoC. However, if required, the ex....