Exim Bank's Government of India supported Line of Credit of USD 23.50 million to the Government of the Republic of Malawi

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..... the Government of the Republic of Malawi Export-Import Bank of India (Exim Bank) has entered into an agreement dated August 05, 2016 with the Government of the Republic of Malawi for making available to the latter, a Government of India supported Line of Credit (LOC) of USD 23.50 million (USD Twenty three million and five hundred thousand only) for financing construction of a new water supply .....

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..... Under the LOC, the terminal utilization period is 60 months after the scheduled completion date of the project. 3. Shipments under the LOC will have to be declared on Export Declaration Form as per instructions issued by the Reserve Bank from time to time. 4. No agency commission is payable under the above LOC. However, if required, the exporter may use its own resources or utilize balances .....

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