ANNOUNCEMENT 21 Apr 2011A new trade finance transaction was announced in April 2011.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 21 April 2011, the Government of India agreed to provide a loan of USD 27.50 million to the Government of Senegal for financing machinery, equipment, goods and services for developing rural electrification projects in Senegal.
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 24 August 2011.