Ex-Im Bank, ICICI To Pump $500M Into Indian Projects

Law360, New York (February 8, 2013, 7:50 PM EST) -- The Export-Import Bank of the U.S. has signed a memorandum of understanding to provide a $500 million loan with ICICI Bank Ltd., the largest private-sector bank in India, to fund projects in the country, Ex-Im Bank announced Thursday.

In addition to project financing, the agreement will provide funding for U.S.-produced goods and services by ICICI customers.

Ex-Im Bank and ICICI plan to invest the funds in projects in the infrastructure, air traffic control, railroad, urban metro, power generation and port development sectors. The deal also covers...
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