ANNOUNCEMENT 25 Mar 2015A new trade finance transaction was announced in March 2015.
NUMBER OF INTERVENTIONS
A.P. (DIR Series) Circular No.14
On 25 March 2015, the Government of India agreed to provide a loan of USD 26.24 million to the Government of Nicaragua for financing goods and services including consultancy services to build the Carlos Fonseca substation, 95 km transmission lines and expansion of three substations - Villa El Carmen, Las Colinas & San Rafael del Sur.
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 10 August 2015.