ANNOUNCEMENT 28 Mar 2011A new trade finance transaction was announced in March 2011.
NUMBER OF INTERVENTIONS
Reserve bank of India notification
On 28 March 2011, the Government of India agreed to provide a loan of USD 20 million to the Government of Moambique for financing machinery, equipment, goods and services for enhancing productivity of rice-wheat-maize cultivation in Mozambique.
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 2 June 2011.