ANNOUNCEMENT 22 May 2014

A new trade finance transaction was announced in May 2014.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 Dec 2014 | Removal date: open ended
Still in force

Local sourcing

The credit for this transaction 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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 31 Dec 2014 | Removal date: open ended
Still in force

Trade finance

On 22 May 2014, the Export Import Banking of India (EXIM), at the behest of Government of India, agreed to provide a loan of USD 100 million to the Government of Nigeria for financing goods and services for financing three projects:

  • Supply and commissioning of transmission lines and distribution transformers in Enugu state
  • Substation including solar mini grid electrification and solar street lighting in Kaduna state
  • 2 x 26 MW gas-based power plant in the Delta region of Southern Nigeria

 
The credit agreement is effective from 31 December 2014 and requires at least 75% of the contract price for goods and services associated with the project to be sourced from India.