ANNOUNCEMENT 05 Aug 2016A new trade finance transaction was announced in August 2016.
NUMBER OF INTERVENTIONS
Official press release of the Export Import Bank
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.