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Exim Bank's Line of Credit of USD 198.96 million to the Myanma Foreign Trade Bank (MFTB) Myanmar

FEMA - 86 - Dated:- 23-3-2015 - RBI/2014-15/509 A.P. (DIR Series) Circular No. 86 March 23, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Export-Import Bank of India (Exim Bank) has entered into an Agreement dated December 11, 2013 with the Myanma Foreign Trade Bank (MFTB), Republic of Union of Myanmar, for making available to the latter, a Line of Credit (LOC) of USD 198.96 million (USD One Hundred and Ninety Eight Million and Nine Hundred and Sixty Thousand) for financing 18 ir .....

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es of the value of at least 50 per cent of the contract price shall be supplied by the seller from India and the remaining 50 percent goods and services may be procured by the seller for the purpose of eligible contract from outside India. 2. The Credit Agreement under the LOC is effective from February 26, 2015. Under the LOC, the last date for opening of letters of credit and disbursement will be 48 months from the scheduled completion date of contract in the case of project exports and 72 mon .....

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