ANNOUNCEMENT 16 Sep 2015

A new trade finance transaction was announced in September 2015.

NUMBER OF INTERVENTIONS

2

  • 0 harmful
  • 2 neutral
  • 0 liberalising

SOURCE



Official press release

"Proposal for providing concessional financing scheme to support Indian companies bidding for strategically important infrastructure projects abroad "

http://pib.nic.in/newsite/PrintRelease.aspx?relid=126937


Inception date: No inception date

Trade finance

On 16 September 2015, the Indian Union Cabinet of Ministers approved a scheme to enable the Export Import Bank of India (EXIM) to provide finance at concessional rates to Indian companies vying for "strategically important infrastructure projects" abroad.
The strategic importance of such projects and the terms of finance will be evaluated on an individual case basis.
Further, participating companies are required to source 75 percent of the project value from India, if the terms of the bid do not rule out such an allocation.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: No inception date

Local sourcing

The credit for this transaction 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 project is sourced from India.
 
N/A
 
N/A