ANNOUNCEMENT 20 Jun 2018

Two lines of credit have been extended to Suriname.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

EXIM Bank of India - Official Press Release 25 June 2018
https://www.eximbankindia.in/press-releases

Inception date: 20 Jun 2018 | Removal date: open ended

Trade finance

On 20 June 2018, the Export-Import Bank of India (EXIM Bank), on behalf of the Government of India, extended two Lines of Credit totaling USD 31 million to the Government of Suriname of which USD 27.50 is provided for financing the up-gradation of its Transmission Network Infrastructure while USD 3.5 million is provided for the servicing and maintenance of three Chetak helicopters.

As observed from similar previous trade finance loans from India, the Reserve Bank of India will potentially require at least 75% of the contract price for goods and services associated with the project to be sourced from India.

Inception date: 20 Jun 2018 | Removal date: open ended

Local sourcing

All credit agreements signed in the past by the EXIM Bank of India require that a certain share of the contract price of goods and services associated with the projects is sourced from India. The exact compulsory sourcing requirement will be announced with the official credit agreement.

 
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