Export-Import Bank of India (EximBank India) has agreed with the government of the Republic of Senegal to provide a US$10 million credit line for the West African country.

Senegalese importers will be able to tap the credit line by opening letters of credit (L/Cs) to purchase Indian goods and services eligible for export under India's foreign trade policy.

Criteria

Eligible goods and services include consultancy services for a major information technology training project currently running in Senegal.

Indian sellers must supply at least 85% of the value of goods and services bought using the facility.

Timings

The credit line is effective from 19 September 2007.

The latest date for opening of L/Cs under the facility will be 48 months from the scheduled completion date of contract in the case of project exports and 72 months from execution date of the credit agreement in the case of other supply contracts.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.