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CDB signs 500 mln USD deal with ICICI Bank for facility management
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | ICICI Bank Limited |
| Country | India |
| Start Date | Dec 15, 2010 |
| End Date | Dec 25, 2032 |
| Duration | 8,046 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 42724 |
Grant Description
CDB signs 500 mln USD deal with ICICI Bank for facility management 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.
Sources & References
- Some 50 business pacts signed during Wen's visit
- Factbox: China and India deals in focus during Wen's visit, 50 trade pacts mark day one of Wen visit
- India
- China ink 48 deals worth over $16 b
- India
- China sign 49 MoUs to boost economic ties
- ICICI Bank Limited signs framework agreement with The Export - Import Bank of China and MoU with China Development Bank Corporation Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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ICICI Bank Limited
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