ANNOUNCEMENT 06 May 2009A new trade finance transaction was announced in May 2009.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 6 May 2009, the Government of India agreed to provide a loan of USD 30 million to the Government of Mozambique for financing machinery, equipment, goods and services for developing rural electrification projects in the provinces of Gaza, Zambezia and Nampula in Mozambique.
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 29 August 2009.