ANNOUNCEMENT 17 Feb 2009A new trade finance transaction was announced in February 2009.
NUMBER OF INTERVENTIONS
Reserve bank of india notification:
On 17 February 2009, the Government of India agreed to provide a loan of USD 20 million to the Foreign Trade Bank of Myanmar for financing machinery, equipment, goods and services to upgrade the Thanbayakan Petrochemical Complex in Myanmar.
The credit is provided by the Export Import Bank of India (EXIM) and requires that at least 85% of the contract price for goods and services associated with the project is sourced from India.
The credit agreement came into force on 15 June 2009.