AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 11 July 2016, the Export Import Bank of India (EXIM Bank), on behalf of the Government of India, extended two Lines of Credit for USD 29.95 million and USD 15 million to the Government of Kenya financing the upgrade of Rift Valley Textile Factory (RIVATEX East Africa Ltd) and for development of various small and medium enterprises.
As is seen from Letters of Credit extended by the EXIM bank in the past, the agreement will require that the recipient country source at least 75% of the contract price for goods and services associated with the project from India.
According to UN Comtrade, bilateral trade on the stated tariff line did no exceed USD 1 million for a single trading partner in 2015, the year prior to the imposition of this measure. Hence, no countries are listed as affected trading partners.
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