ANNOUNCEMENT 13 Dec 2012A new trade finance transaction was announced in December 2012.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 13 December 2012, the Government of India agreed to provide a loan of USD 76.5 million to the Government of the Republic of Malawi for financing goods and services to be used for the following projects:
(i) development of irrigation network under the greenbelt initiative,
(ii) setting up of refined sugar processing equipment in Salima under greenbelt initiative,
(iii) development of fuel storage facilities in Malawi.
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 13 March 2013.