ANNOUNCEMENT 29 Oct 2014A new trade finance transaction was announced in October 2014.
NUMBER OF INTERVENTIONS
RBI Circular No. 75 - 11 February 2015
On 29 October 2014, the Government of India agreed to provide a loan of USD 22.50 million to the Government of Gambia for financing goods and services for an electrification project in Banjul area in Gambia.
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 plant is sourced from India.
The credit agreement entered into force on 26 December 2014.