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: 22 Aug 2017 | Removal date: open ended
Still in force

Trade finance

On 6 June 2017, the Government of India agreed to provide a loan of USD 318 million to the Government of Sri Lanka. Of the loan, USD 313 million will be used for financing rolling stock procurement by the national railways and for upgradation of railway tracks. The remaining USD 5 million is to be used as to be agreed between the two parties.

The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 75% of the contract price for goods and services associated with the projects is sourced from India.

The credit agreement entered into force on 22 August 2017.

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

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