ANNOUNCEMENT 05 May 2014A new trade finance transaction was announced in May 2014.
NUMBER OF INTERVENTIONS
On 5 May 2014, the Government of India agreed to provide a loan of USD 18 million to the Government of Mauritius for financing machinery, equipment, goods and services to finance acquisition of Waterjet Fast Attack Crafts.
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 are sourced from India.
The credit agreement came into force on 28 July 2014.
According to UN Comtrade, bilateral trade with Mauritius on the stated tariff line did not exceed USD 1 million in 2013, the year prior to the imposition of this measure. Hence, no countries are listed as affected trading partners.
The credit agreement requires that at least 75% of the goods and services for this project are sourced from India.