Mumbai: ICICI Bank Ltd, India's largest private sector bank, has signed a framework agreement with the Export-Import Bank of China (China Exim Bank) for $1 billion.
Under this agreement, China Exim Bank will consider providing short-term and long-term credit lines to ICICI Bank for financing purchase and import by the latter's clients of Chinese products and services, a statement by ICICI said. It also said that the credit lines may also be utilised to support cooperation between Chinese and Indian enterprises in natural resources, energy exploration and construction contracting projects.
ICICI Bank and China Exim Bank had signed a $500-million framework agreement for cooperation in July 2009.
