Exim Bank’s GOI-supported Line of Credit for ₹ 4,850 crores to the Government of Maldives

The Reserve Bank of India directs Category – I Authorised Dealer Banks to facilitate exports financed under the Government of India-supported Line of Credit of ₹ 4,850 crores granted to the Government of Maldives. The agreement, effective from August 27, 2026, requires that at least 75% of the contract value be supplied from India, with individual credit agreements for a minimum of ₹ 500 crores to be signed under the umbrella facility. Banks are instructed to declare shipments via Export Declaration Form or Shipping Bill and permit agency commission payments from exporter resources or Exchange Earners’ Foreign Currency Accounts upon realization of export value.

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( 263 kb ) Exim Bank’s GOI-supported Line of Credit (LOC) for ₹ 4,850 crores the Government of Maldives, for financing various developmental projects in Maldives

RBI/2026-2027/269 A.P. (DIR Series) Circular No. 22

September 23, 2026

All Category – I Authorised Dealer Banks

Madam/Sir

Exim Bank’s GOI-supported Line of Credit (LOC) for ₹ 4,850 crores the Government of Maldives, for financing various developmental projects in Maldives

Export-Import Bank of India (Exim Bank) has entered into an agreement dated July 25, 2025, with the Government of the Republic of Maldives, for making available to the latter, Government of India supported Line of Credit (LoC) of ₹ 4,850 crores (Rupees Four Thousand Eight Hundred and Fifty crores only) for financing various developmental projects in Maldives. The export of eligible goods and services from India, as defined under the agreement, would be allowed, subject to their eligibility 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. Under this Agreement, goods, works and services of the value of at least 75% of the contract price (as may be applicable) shall be supplied by the Seller from India, and the remaining 25% of goods and services may be procured by the Seller for the purpose of the Eligible Contract from outside India.

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Source: Reserve Bank of India — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works