25.1 Spanish Government has offered, in April '99, a financial facility for an amount upto 400 million US$ to finance export of spanish goods and services during the period 1999-2002. The facility will have a grant element of 35% and a mixed package of 50:50 of Commercial Credit and Soft Loan. The repayment period would be 30 years, including a grace period of 10 years. OECD guidelines will apply to the Commercial Credit.
25..2 Spanish Government will give priority to the projects in the Sectors of Power, Roads, Telecommunications, Railways, Airports and Urban infrastructure.
25..3 Possibilities of availing of Spanish offer are being explored. Currently, however, there is no Indo-Spanish Bilateral Development Cooperation Programme.
25.4 The details of Loan is given in Annexure I.