ANNOUNCEMENT 12 Apr 2012A new trade finance transaction was announced in April 2012.
NUMBER OF INTERVENTIONS
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.