ICICI Bank signs MoU with US Ex-Im Bank for USD 250mn

ICICI Bank Ltd, India?s second largest Bank, and The Export-Import Bank of the United States (Ex-Im Bank) today signed a Memorandum of Understanding (MOU) for USD 250 million to work together for financing the capital goods imports of Indian corporates from USA. This understanding is an extension on the Indian Infrastructure Facility of Ex-Im Bank. As per the understanding Ex-Im Bank will provide credit support to International Banks for financing of capital goods imports by Indian corporates. This MOU will particularly benefit companies in sectors such as power, transportation, airports, oil & gas and renewable energy. The MOU was signed by Mr. Ray Ellis, Vice President and Manager of Ex-Im Bank?s Strategic Initiatives Division and Mr. Sonjoy Chatterjee, Executive Director, Member of ICICI Bank Ltd?s board (responsible for Corporate banking and International Banking).