Carbon Credits, Clean Energy, India, Japan, Renewable Energy

ICICI Bank Signs US$200 Million Loan for CDM Projects in India

MUMBAI (Thomson Financial) – India’s largest private sector bank, ICICI Bank Ltd, said it has signed a 200 mln usd loan agreement with Japan Bank for International Cooperation (JBIC) to promote clean development mechanism (CDM) projects in India.

The loan is aimed at providing finance, through ICICI Bank, to prospective clean development mechanism projects in which Japanese companies show an interest in purchasing emissions reduction credits.

The loan will be co-financed by Sumitomo Mitsui Banking Corp, The Bank of Tokyo-Mitsubishi UFJ Ltd, Mizuho Corporate Bank Ltd, HSBC and Societe Generale with a guarantee from JBIC.

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