India trains officials on EXIM Bank's Line of Credit guidelines in Nepal

The Indian mission here during a two-day training program provided training to 27 Nepali officials about the Line of Credit (LoC) guidelines and procedures of Export-Import (EXIM) Bank of India.

"The training programme was organised as part of a bilateral understanding reached between the Government of Nepal and Government of India during the 7th Line of Credit (LOC) Review Meeting held on June 2019 in India," the Indian Mission in Nepal said in a statement on Thursday.

"The first day of the training programme covered the general introduction to the EXIM Bank's LOC modality including project identification, prequalification and tendering process, evaluation of tender documents, empanelment process, project implementation and monitoring," the statement read.

"The second day of the training included a session by officials of the Government of Nepal on Import/Export and domestic tax for Indian contractors involved in LoC projects in Nepal. A total of 28 Indian contractors attended this training session," the release from Indian Mission in Kathmandu," it added.

The program, organised in collaboration with the National Reconstruction Authority (NRA) of Nepal, was held from August 27 to August 28 and included three senior experts from the EXIM Bank of India.