ANNOUNCEMENT 06 Sep 2013A new trade finance transaction was announced in September 2013.
NUMBER OF INTERVENTIONS
Reserve Bank of India notification
On 6 Septemeber 2013, the Government of India agreed to provide a loan of USD 42.61 million to the Government of the Republic of Benin for financinggoods and services including machinery & equipment and consultancy services in ordert to improve water supply systems in several villages in Benin.
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 16 December 2013.