IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 24 Jan 2011 | Removal date: open ended
Still in force

Trade finance

On 26 November 2010, the Government of India agreed to provide a loan of USD 416.39 million to the Government of the Federal Democratic Socialist Republic of Sri Lanka for financing goods and services to be used for the following railway track development projects. 
 
(i) Track laying by Indian Railways Construction Company Ltd (IRCON) on the Omanthai- Pallai sector (USD 185.35 million),
(ii) Track laying by IRCON on the Madhu Church-Tallaimannar sector (USD 149.74 million), and
(iii) Track laying on the Medawachchiya- Madhu railway line (USD 81.30 million).
 
The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 85% of the contract price for goods and services associated with the projects is sourced from India.
 
The credit agreement entered into force on 24 January 2011.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

412 Products of iron or steel
7302 Railway or tramway track construction material of iron or steel, the following : rails, checkrails and rack rails, switch blades, crossing frogs, point rods and other crossing pieces, sleepers (crossties), fishplates, chairs, chair wedges, sole plates
730210 Rails
730230 Switch blades, crossing frogs, point rods and other crossing pieces
730240 Fishplates and sole plates
730290 Other

Please report this page in case you detect an inaccuracy in its content.