ANNOUNCEMENT 13 Sep 2010A new trade finance transaction was announced in September 2010.
NUMBER OF INTERVENTIONS
Reserve bank of India notificaiton
On 13 September 2010, the Government of India agreed to provide a loan of USD 72.55 million to the Government of the Lao PDR for financinggoods and services including consultancy services to finance the development of:
- the 230 KV double circuit transmission line from Nabon to Thabok and substations (USD 34.68 million); and
- the Nam Boun 2 hydropower projects (15 MW) (USD 37.86 million).
The credit 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.
The credit agreement came into force on 2 November 2010.