ANNOUNCEMENT 10 Oct 2012A new trade finance transaction was announced in October 2012.
NUMBER OF INTERVENTIONS
On 10 October 2012, the Government of India agreed to provide a loan of USD 5 million to the Banco Exterior of Cuba for financing goods and services to setup a milk powder processing plant in the Camaguey province in Cuba.
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.