The deal signed will facilitate trade between the two countries
ICICI bank has signed agreement with Export-Import Bank of China and China Development Bank Corporation to facilitate trade
New Delhi: Export-Import Bank of China (China Exim Bank) and China Development Bank Corporation (CDB) on Thursday signed various agreements with SBI, ICICI Bank and Axis Bank to facilitate trade between the two countries. SBI signed an agreement with China Exim Bank for a Line of Credit of $1.8 billion for imports of raw material, energy, equipment, mechanical and electronic products, among others from China.
“State Bank of India and The Export Import Bank of China signed a framework agreement for a Line of Credit of $1.8 billion to be offered by The Exim Bank of China. “The Line of Credit will be utilised for projects involving imports of Chinese raw materials, energy, equipment, mechanical and electronic products... any other projects mutually agreed by the two banks,” SBI said in a release.
( Source : dc correspondent )
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