ANNOUNCEMENT 09 Feb 2010

A new trade finance transaction was announced in February 2010.

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=6041


Inception date: 03 Sep 2010 | Removal date: open ended
Still in force

Trade finance

On 9 February 2010, the Government of India agreed to provide a loan of USD 42 million to the Government of Mauritania for financing goods and services including consultancy services to finance:

- the potable drinking water project (USD 6.80 million); and
- the agriculture development project (USD 15 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 03 Septemeber 2010.

Inception date: 03 Sep 2010 | Removal date: open ended
Still in force

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.
 
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