Friday, January 15, 2016

Line of credit – streamlined

The government has approved the new Indian Development Assistance Scheme (IDEAS) to streamline Lines of Credit (LOC) offered to various countries in South Asia, SE Asia, Africa and Central America emphasizing on timely completion of projects. The initiative includes provisions to provide better terms of credit. Several changes have been made in the operational guidelines such as making Detailed Project Report, strengthening of monitoring system, pre- qualification of competent companies and requirement of regular reports by the borrowing governments.

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