ANNOUNCEMENT 20 Feb 2009A new trade finance transaction was announced in February 2009.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification:
On 20 February 2009, the Government of India agreed to provide a loan of USD 17.34 million to the Government of Lao PDR for financing machinery, equipment, goods and services to develop irrigation schemes in the Chamassack Province.
The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 60% of the contract price for goods and services associated with the project is sourced from India.
The credit agreement came into force on 24 July 2009.