Exim Bank's Government of India supported Line of Credit (LoC) of USD 50 million to the Government of the Republic of Maldives

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..... million to the Government of the Republic of Maldives Export-Import Bank of India (Exim Bank) has entered into an agreement dated February 21, 2021 with the Government of the Republic of Maldives, for making available to the latter, Government of India supported Line of Credit (LoC) of USD 50 million (USD Fifty Million only) for the purpose of defence projects. Under the arrangement, financin .....

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..... ct. 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. Au .....

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