Exim Bank's Government of India supported Line of Credit of USD 800 million to the Government of the Republic of Maldives

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.... of Maldives Export-Import Bank of India (Exim Bank) has entered into an agreement dated March 18, 2019 with the Government of the Republic of Maldives for making available to the latter, a Government of India supported Line of Credit (LoC) of USD 800 million (USD Eight Hundred million only) for the purpose of financing development projects in the Republic of Maldives. Under the arrangement, fina....

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....e 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 exporter may use his own resources or utilize balances in his Exchange Earners' Foreign Currency Account for payment of commission in free foreign exchange.....