ANNOUNCEMENT 23 Aug 2012A new trade finance transaction was announced in August 2012.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 23 August 2012, the Government of India agreed to provide a loan of USD 15 million to the Government of the Republic of Benin for financing goods and services to setup a tractor assembly plant and a farm equipment manufacturing unit.
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 28 February 2013.