Exim Bank’s Line of Credit of US$ 27 Million to The Government of the Republic of Mali

By Vijay Kumar

The Export-Import Bank of India has made available a Line of Credit (LOC) up to an aggregate sum of USD 27 Million. The credit is available for financing exports from India, under the Foreign Trade Policy of the Government of India, of equipment, goods and services for rural electrification and setting up of agro-machinery and tractor assembly plant in Mali.

Shipments under the credit will have to be declared on GR/SDF Forms. 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. Authorised Dealer (AD) banks may allow such remittance after realisation of full payment of contract value.

RBI CIRCULAR NO 19, Dated: January 2, 2006

It is my sincere hope that within the foreseeable future we can rapidly modernize rural India and ensure that the gains of development reach every corner of our vast country. - Dr. Man Mohan Singh at the Science Congress yesterday.