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=4851


Inception date: 02 Feb 2009 | 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: 02 Feb 2009 | Removal date: open ended
Still in force

Trade finance

On 14 November 2008, the Government of India agreed to provide a loan of USD 15 million to the Government of Sierra Leone for financing import of goods from India for the development of agri-businesses in Sierra Leone, which includes procurement of tractors and connected implements, harvesters, rice threshers, rice mills, maize shellers and pesticide spray equipments, etc.
 
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 2 February 2009.