Last Updated :
20 May 2009 at 12:25 IST
Antwerp diamond dealers get big funding
Commodity Online
The Antwerp World Diamond Centre (AWDC) has reached an agreement with local diamond financing banks to provide additional “financial mechanism” to support Antwerp’s diamond dealers, the AWDC has announced.
The banks have agreed to provide new credit facilities of up to €1 billion for a period of two years, according to the AWDC, in exchange of stock collateral. The AWDC will be in charge of the valuation of the goods.
The purpose of the agreement is to improve the liquidity position of the diamond dealers and give a new impulse to the diamond trade. This comes at a time when bank credit is shrinking, mostly an outcome of lower trade levels and the falling value of the diamonds put up as collateral.
NCDEX COPPERCATHODEJUNE2012 29 June 2012
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read:
