ANNOUNCEMENT 24 Jul 2013

A new trade finance transaction was announced in July 2013.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Reserve Bank of Notification A.P. (DIR Series) Circular No. 91

http://rbi.org.in/scripts/NotificationUser.aspx?Id=8690&Mode=0


Inception date: 20 Dec 2013 | Removal date: open ended

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: 20 Dec 2013 | Removal date: open ended

Trade finance

 On 24 July 2013, the Government of India agreed to provide an additional loan of USD 125 million to the Government of Sudan for financing machinery, equipment, goods and services to develop the Mashkour (earlier Elduem) sugar project at White Nile state in Sudan. India had earlier provided a loan of USD 25 million in 2009 for the same project (see related measure)

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 20 December 2013.

 
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