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Exim Bank expands Indian infra facility with ICICI Bank

WASHINGTON: The Export-Import Bank of the U.S. has approved the participation of India’s ICICI Bank in its Indian Infrastructure Facility established to support U.S. exports for Indian projects.

“We are pleased to expand our Indian Infrastructure Facility with ICICI Bank, a financial institution that is experienced in Exim Bank transactions. We look forward to supporting more U.S. exports with ICICI Bank under the facility,” Exim Bank Chairman and President James H. Lambright said.

ICICI Bank received a special delegated authority level of $250 million, which increases the total support available under the facility to $2.45 billion.

Projects eligible for support include power and renewable energy generation, oil and gas development, small aircraft, airport development and healthcare, according to a media release. — PTI

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