ANNOUNCEMENT 05 Aug 2016

A new trade finance transaction was announced in August 2016.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official press release of the Export Import Bank
http://www.eximbankindia.in/node/1667


Inception date: 05 Aug 2016 | Removal date: open ended

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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 05 Aug 2016 | Removal date: open ended

Trade finance

 On 5 August 2016, the Export Import Bank of India (EXIM Bank), on behalf of the Government of India, extended a Line of Credit to the Republic of Malawi. The line of credit is worth USD 23.50 million and shall be used for financing the development of of a New Water Supply System from Likhubula River in Mulanje to Blantyre in Malawi.

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.

 
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