ANNOUNCEMENT 05 Aug 2010A new trade finance transaction was announced in August 2010.
NUMBER OF INTERVENTIONS
Reserve bank of India notification:
On 5 August 2010, the Government of India agreed to provide a loan of USD 42 million to the Government of the Democratic Republic of Congo for financinggoods and services including consultancy services to finance the development of the Kakobola Hydroelectric Power Project.
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 19 November 2010.