ANNOUNCEMENT 17 Feb 2009

A new trade finance transaction was announced in February 2009.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Reserve bank of india notification:
http://rbi.org.in/Scripts/NotificationUser.aspx?Mode=0&Id=5158


Inception date: 15 Jun 2009 | 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: 15 Jun 2009 | Removal date: open ended

Trade finance

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. 

 
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