ANNOUNCEMENT 25 Mar 2015

A new trade finance transaction was announced in March 2015.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



RBI/2015-16/177
A.P. (DIR Series) Circular No.14

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10024&Mode=0


Inception date: 10 Aug 2015 | Removal date: open ended
Still in force

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: 10 Aug 2015 | Removal date: open ended
Still in force

Trade finance

 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.