Overview

China extends loan of $98m to ICICI Bank of India

Commitments (Constant USD, 2023)$135,957,141

Commitment Year•2009Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•Action Relating To DebtFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 19, 2009

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

ICICI Bank Limited

Loan description

China extends loan of $98m to ICICI Bank of India

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 19, 2009, the Export Import Bank of China (China Exim bank) and ICICI Bank signed a loan agreement for $98 million USD under a two-step buyer credit (export credit) arrangement. The ICICI Bank signed the loan agreement through its Hong Kong branch and is the first Indian bank to have entered into this arrangement with China Exim. The cooperation between ICICI Bank and China Exim bank is likely to lead to creation of business opportunities for Chinese firms in India and is also expected to help Indian companies in tying-up long-term debt for their projects.