ANNOUNCEMENT 09 Mar 2014A new trade finance transaction was announced in March 2014.
NUMBER OF INTERVENTIONS
In early 2014, the Eximbank of India signed a loan agreement including requirements to source from India with the Republic of Congo.
On 9 March 2014, the Government of India agreed to provide a loan of USD 89.90 million to the Government of Congo for financing machinery, equipment, goods and services to develop a transportation system in Congo.
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 8 August 2014.
The credit agreement requires that at least 75% of the goods and services for this project are sourced from India.