ANNOUNCEMENT 19 Jul 2017
A new trade finance transaction was announced in July 2017.
NUMBER OF INTERVENTIONS
Exim Bank’s GOI-supported eighth line of credit [LOC] of USD 17.5 million extended to the Government of the Cooperative Republic of Guyana
https://www.eximbankindia.in/press-releases - 19 July 2017
RBI Circular RBI/2018-19/19 A.P. (DIR Series) Circular No. 3 -12 July 2018
On 19 July 2017, the Export Import Bank of India (EXIM), at the behest of Government of India, agreed to provide a loan of USD 17.5 million to the Government of Guyana for the upgradation of three hospitals in Guyana.
As per the the Reserve Bank of India's Circular "RBI/2018-19/19 A.P. (DIR Series) Circular No. 3" dated 12 July 2018, at least 75% of the contract price for goods and services associated with the project to be sourced from India.
The Agreement under this Line of Credit is effective from 12 June 2018 and the terminal utilisation date is 60 months from the date of scheduled completion of the project.
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.