ANNOUNCEMENT 22 Feb 2013A new trade finance transaction was announced in February 2013.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 22 February 2013, the Government of India agreed to provide a loan of USD 41.60 million to the Government of the Union of Comoros for financing goods and services for the installation of a power project in Moroni, the capital of Comoros.
The credit 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 plant is sourced from India.
The credit agreement entered into force on 23 July 2013.