ANNOUNCEMENT 14 Dec 2011A new trade finance transaction was announced in December 2011.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 14 December 2011, the Government of India agreed to provide a loan of USD 70 million to the Government of Republic of Congo for financing machinery, equipment, goods and services including consultancy services to develop rural electrification projects in the country.
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 28 March 2012.