ANNOUNCEMENT 07 Aug 2010A new trade finance transaction was announced in August 2010.
NUMBER OF INTERVENTIONS
The credit agreement requires that at least 85% of the goods and services for this project are sourced from India.
On 7 August 2010, the Government of India agreed to provide a loan of USD 1 billion to the Government of the People's Republic of Bangladesh for financing goods and services including project exports and consultancy services in Bangladesh.
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 plant is sourced from India.
The credit agreement entered into force on 1 February 2011.