ANNOUNCEMENT 19 Oct 2009A new trade finance transaction was announced in October 2009.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 19 October 2009, the Government of India agreed to provide a loan of USD 15 million to the Government of Benin for financing goods and services including consultancy services for:
(a) the purchase of railway equipment,
(b) the purchase of agricultural equipmentand,
(c) conducting a feasibility study for setting up a cyber city in Benin.
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 16 February 2010.