JBIC and ICICI Cooperation
Policy measure

To date, the Japan Bank for International Cooperation (JBIC) and the ICICI, India’s second largest private-sector bank with extensive business transactions with many of the country’s leading firms and involvement in many domestic infrastructure projects, have developed close cooperative ties through the funding of supporting industries dealing with Japanese affiliates and subsidiaries operating in India as well as the progress in CDM projects. JBIC will help efforts to preserve the global environment by diffusing advanced technologies. (JBIC, 2011)

Implementation

An example of such cooperation is an untied loan agreement signed in March 2011 between the partners on India. “This loan was made to ICICI Bank to finance renewable energy, energy efficiency and other environment-related projects in India. This is the first loan provided in the Asian region for GREEN operations. The loan, totaling 200 million U.S. dollars, was co-financed with Sumitomo Mitsui Banking Corporation (SMBC).” (JBIC, 2011)

Challenges
No identified challenges.
Outcomes
No identified outcomes.
References

JBIC (Japanese Bank for International Cooperation), 2011. JBIC Signs Loan Agreement with ICICI. Available at: www.jbic.go.jp/en/about/press/2011/0401-03.