ANNOUNCEMENT 12 Aug 2011A new trade finance transaction was announced in August 2011.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 12 August 2011, the Government of India agreed to provide a loan of USD 40 million to the Government of Maldives for financinggoods and services including consultancy services to finance the construction of 500 housing units in Maldives.
The credit 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.
The credit agreement came into force on 25 October 2011.