CDB signs 500 mln USD deal with ICICI Bank for facility management
Pledged amount
$ 696363467.8981202
Adjusted pledged amount
$ 696363467.8981202
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
India
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On December 15, 2010, the China Development Bank signed financial pacts worth billions of dollars, including one with Reliance Power and another with ICICI Bank, as part of some 50 business deals sealed during Chinese Premier Wen Jiabao's visit to India. Premier Wen said during an engagement with business leaders of the two sides here that pacts worth $16 billion between companies and enterprises of the two sides would be signed during his three-day India visit. The pact with Reliance Power, a part of the Anil Ambani Group, calls for a $4.63-billion project financing, while the one with ICICI Bank is for a 500 million USD facility agreement. According to a September 2014 article from ICICI, the 500 million USD agreement signed with China Development Bank in December 2010 was a memorandum of understanding.
Number of official sources
1
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
ICICI Bank Limited [Private Sector]