ANNOUNCEMENT 27 Jan 2009A new trade finance transaction was announced in January 2009.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 27 Jaunary 2009, the Government of India agreed to provide a loan of USD 166.23 million to the Government of Ethiopia for financing machinery, equipment, goods and services to develop the sugar industry in the country.
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 1 June 2009.