Exim Bank's Line of Credit of USD 50 Million to Chad
The Export-Import Bank of India (Exim Bank) has concluded an agreement with the Government of the Republic of Chad making available to the latter a Line of Credit (LOC) upto an aggregate sum of USD 50 Million (US Dollar Fifty Million only). The credit is available for financing equipment, goods and services eligible for being exported from India for four projects in Chad
(a) cotton yarn plant valued at USD 24.5 million
(b) steel billet plant and rolling mill valued at USD 11.5 million,
(c) plant for assembly of agricultural equipment valued at USD 10 million and
(d) bicycle plant valued at USD 4 million.
No agency commission is payable under the line of credit. However, if required the exporter may use his own resources or utilize balances of his EEFC account for payment of commission in free foreign exchange.
RBI Circular No. 14, Dated: October 27, 2005
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