ANNOUNCEMENT 15 Jul 2016

A new trade finance transaction was announced in July 2016.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official press release
http://www.eximbankindia.in/node/1644


Inception date: 15 Jul 2016 | Removal date: open ended
Still in force

Trade finance

On 15 July 2016, the Export Import Bank of India (EXIM Bank) financed the purchases of buses by the governemnt of Senegal. On behalf of the Government of India, the EXIM bank extended a Line of Credit of USD 26 million to finance the acquisition of buses.

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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 15 Jul 2016 | Removal date: open ended
Still in force

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.
 
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