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

$98M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	ICICI Bank Limited
Country	India
Start Date	Mar 19, 2009
End Date	Nov 08, 2026
Duration	6,443 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`43105`

Grant Description

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

📚 Sources & References

China Exim provides USD 98 mn buyers credit loan to ICICI Bank
Export-Import Bank of China provides USD 98 mn Buyers Credit Loan to ICICI Bank 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.