ANNOUNCEMENT 12 Apr 2012

A new trade finance transaction was announced in April 2012.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official notification

http://rbi.org.in/Scripts/NotificationUser.aspx?Mode=0&Id=7470


Inception date: 09 Jul 2012 | Removal date: open ended

Local sourcing

The credit for this transaction 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 project is sourced from India.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 09 Jul 2012 | Removal date: open ended

Trade finance

On 12 April 2012, the Government of India entered agreed to provide a loan of USD 47 million to the Government of the Federal Democratic Republic of Ethioipia for financing machinery, equipment, goods and services to develop the sugar industry.
 
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 project is sourced from India. 
 
The credit agreement came into force on 9 July 2012. 

 
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