Exim Bank’s Government of India supported Line of Credit of USD 24.50 million to the Government of the Republic of Senegal
Export-Import Bank of India (Exim Bank) has entered into an agreement dated August 20, 2018 with the Government of the Republic of Senegal for making available to the latter, a Government of India supported Line of Credit (LoC) of USD 24.5 million (USD Twenty Four Million and Five Hundred Thousand only) for the purpose of financing up-gradation and rehabilitation of Health Care System in the Republic of Senegal.
Under the arrangement, financing of export of eligible goods and services from India, as defined under the agreement, would be allowed subject to their being eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this agreement.
Out of the total credit by Exim Bank under the agreement, goods and services of the value of at least 65 per cent of the contract price shall be supplied by the seller from India and the remaining 35 per cent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India.
The purchase of equipment should be from Indian manufacturers with provision for 3 years warranty plus 10 to 12 years of comprehensive maintenance contract, so as toensure proper functioning for adequate period. Further, the drugs (preferably generic) should also be sourced from Indian manufacturers.
The Agreement under the LoC is effective from June 26, 2019. Under the LoC, the terminal utilization period is 60 months after the scheduled completion date of the contract .
Shipments under the LoC shall be declared in Export Declaration Form as per instructions issued by the Reserve Bank from time to time.
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. Authorised Dealer Category- I (AD Category- I) banks may allow such remittance after realization of full eligible value of export subject to compliance with the extant instructions for payment of agency commission.
Exim Bank’s Government of India supported Line of Credit of USD 100 million to the Government of Independent State of Papua New Guinea
Export-Import Bank of India (Exim Bank) has entered into an agreement dated January 17, 2019 with the Government of the Independent State of Papua New Guinea for making available to the latter, a Government of India supported Line of Credit (LoC) of USD 100 million (USD One Hundred Million only) for the purpose of financing infrastructure related projects (USD 60 million for Bayer-Madang road project and USD 40 million for Hoskins-Kimbe road project) in the Independent State of Papua New Guinea.
Under the arrangement, financing of export of eligible goods and services from India, as defined under the agreement, would be allowed subject to their being eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this agreement.
Out of the total credit by Exim Bank under this agreement, goods, works and services of the value of at least 75 per cent of the contract price shall be supplied by the Seller from India and the remaining 25 per cent of goods and services may be procured by the Seller for the purpose of the eligible contract from outside India.
The Agreement under the LoC is effective from June 25, 2019. Under the LoC, the terminal utilization period is 60 months from the scheduled completion date of the project.
Shipments under the LoC shall be declared in Export Declaration Form as per instructions issued by the Reserve Bank from time to time.
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. Authorised Dealer Category- I (AD Category- I) banks may allow such remittance after realization of full eligible value of export subject to compliance with the extant instructions for payment of agency commission.
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