ANNOUNCEMENT 24 Jul 2013A new trade finance transaction was announced in July 2013.
NUMBER OF INTERVENTIONS
Reserve Bank of Notification A.P. (DIR Series) Circular No. 91
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.