ANNOUNCEMENT 06 Jan 2010A new trade finance transaction was announced in January 2010.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 6 January 2010, the Government of India agreed to provide a loan of USD 50 million to the Government of Zambia for financing goods and services including consultancy services to develop the Itezhi-Tezhi hydro power project.
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 March 2010.