Exim Bank Grants $40M Credit Line to Tanzania for Indian Exports, Effective January 2010, Under FEMA Rules.

The Export-Import Bank of India (Exim Bank) has established a Line of Credit (LOC) of USD 40 million to the Government of the United Republic of Tanzania, effective from January 11, 2010. This LOC finances the export of eligible goods and services, including consultancy, from India, primarily for tractors, pumps, and equipment. At least 85% of the contract value must be supplied from India, with the remaining 15% potentially sourced internationally. The LOC's validity for Letters of Credit and Disbursement spans up to 72 months from the agreement date. No agency commission is payable under this LOC, and compliance with FEMA regulations is required.

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