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November 2016

A. P. (DIR Series) Circular No. 3 dated September 29, 2016

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins

Exim Bank’s GoI supported line  of Credit of USD 87.00 million to the
government of the Republic of zimbabwe

Exim
Bank has made available, subject to certain terms and conditions, to the
Government of the republic of Zim­ babwe, a Line of Credit of US $ 87 million
for financing renovation / up-gradation of Bulawayo thermal  Power Plant in republic of Zimbabwe. Eligible
goods and servic­ es including consultancy services of the value of at least
75% of the contract price must be supplied by the sellers from india, while the
remaining 25% of the goods and ser­ vices can be procured by the sellers from
outside india.

The
last date for opening letters of credit and disbursement is 60 months from the
scheduled completion date of the project.

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