Project ID: 43105

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

Commitment amount

$ 147196984.7309296

Adjusted commitment amount

$ 147196984.73

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

India

Sector

Action relating to debt (Code: 600)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-03-19

Description

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.

Number of official sources

1

Number of total sources

2

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

ICICI Bank Limited [Private Sector]

Loan Details

Bilateral loan

Export buyer's credit