ANNOUNCEMENT 14 Feb 2012A new trade finance transaction was announced in February 2012.
NUMBER OF INTERVENTIONS
On 14 February 2012, the Government of India agreed to provide a loan of USD 20 million to the Government of Mongolia for financing machinery, equipment, goods and services to develop the India-Mongolia Joint Information Technology Education and Outsourcing Center (IMJIT) project in Mongolia.
The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 65% of the contract price for goods and services associated with the project is sourced from India.
The credit agreement came into force on 14 August 2012.