The Japan Bank for International Cooperation (JBIC) signed a general agreement with ICICI Bank Limited (ICICI Bank), India’s largest private sector bank, for extending export credit line totaling up to USD 30 million dollars (JBIC portion) for financing renewable energy projects. The loan will be co-financed by private financial institutions. The overall co-financing amounts to equivalent of USD50 million. This will be the first credit line to be offered by JBIC that specialized in supporting the export of renewable energy-related equipment
This credit line is intended to provide medium and long-term U.S. dollar yen-denominated credit, to finance through ICICI Bank, the purchase of renewable energy-related equipment (including solar photovoltaic power, solar thermal energy, wind energy, and geothermal energy, etc) from Japan, thereby supporting expansion of Japanese exports to India.