ANNOUNCEMENT 15 Nov 2011A new trade finance transaction was announced in November 2011.
NUMBER OF INTERVENTIONS
The credit agreement requires that at least 90% of the goods and services for this project are sourced from India.
On 15 November 2011, the Government of India agreed to provide a loan of USD 20 million to the Nigerian Import-Export bank for financing the imports of goods and services from India. No specific goods or services to be imported have been specified.
More specifically, the credit is provided by the Export Import Bank of India (EXIM) and requires that at least 90% of the contract price for goods and services is sourced from India.
The credit agreement came into force on 10 May 2012.