ANNOUNCEMENT 24 May 2011A new trade finance transaction was announced in May 2011.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 24 May 2011, the Government of India agreed to provide a loan of USD 80 million to the Government of Burundi for financing machinery, equipment, goods and services including consultancy services to develop the Kabu hydroelectric project in Burundi.
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 9 April 2012.