ANNOUNCEMENT 14 Nov 2008

A new trade finance transaction was announced in November 2008.

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=4717


Inception date: 04 Dec 2008 | 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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 04 Dec 2008 | Removal date: open ended
Still in force

Trade finance

On 14 November 2008, the Government of India agreed to provide a loan of USD 25 million to the Government of Madagascar for financing goods and services including consultancy services for the following projects: 
 
(i) Project for rice productivity ($ 10 million),
(ii) Project for fertilizer production ($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 4 December 2008.