ANNOUNCEMENT 13 Jun 2013A new trade finance transaction was announced in June 2013.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification -
On 13 June 2013, the Government of India agreed to provide a loan of USD 300 million to the Government of the Federal Democratic Republic of Ethiopia for financing goods and services to be used for the purpose of building the new Ethio-Djibouti Railway line (the Asaita-Tadjourah portion) in the Republic of Ethiopia and Republic of Djibouti.
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 15 July 2013.