ANNOUNCEMENT 10 Mar 2010A new trade finance transaction was announced in March 2010.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification:
On 10 March 2010, the Government of India agreed to provide a loan of USD 67.40 million to the Government of Sri Lanka for financinggoods and services including consultancy services to finance the upgradation of the Southern Railway corridor from Colombo to Matara in Sri Lanka.
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 16 August 2010.