ANNOUNCEMENT 20 Apr 2009A new trade finance transaction was announced in April 2009.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 20 April 2009, the Government of India agreed to provide a loan of USD 37.65 million to the Government of Cameroon for financing machinery, equipment, goods and services for the following projects:
- Maize Farm Plantation Project (US $ 18.77 million)
- Rice Farm Plantation Project (US $ 18.88 million)
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 29 May 2009.