Proposition 4
Tag 0DP1, permanent. Cite it as [Bourbaki, Tag 0DP1].
Algebra, chapter X, § 1. Compléments d’algèbre linéaire
(i) Let be a family of a-modules, their direct sum. In order that the a-module E be flat, it is necessary and sufficient that each of the be so.
(ii) Let I be a right filtered preordered set, an inductive system of a-modules relative to I, its inductive limit. If each of the a-modules is flat, then E is flat.
Let be an exact sequence of right a-modules.
(i) In order that the sequence be exact, it is necessary and sufficient that each of the sequences be so (II, p. 13, prop. 7), which proves (i) since identifies canonically with (II, p. 61, prop. 7).
(ii) By assumption, each of the sequences is exact, and hence so is the sequence , since passage to the inductive limit commutes with the tensor product (II, p. 93, prop. 7) and preserves exactness (II, p. 91, prop. 3).
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.
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