Ex-Im Bank Signs $500 Million MOU with ICICI Bank

Thu Feb 7, 2013 1:58pm EST

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Chairman Travels to  India  on Business Development Mission

MUMBAI, India,  Feb. 7, 2013  /PRNewswire-USNewswire/ -- Fred P. Hochberg, the
chairman and president of the Export-Import Bank of  the United States  (Ex-Im
Bank), traveled to  India  last week on a business-development mission. While in
 India, the Chairman signed a  $500 million  Memorandum Of Understanding (MOU)
with ICICI Bank pledging cooperation on financing projects beneficial to both 
India  and  the United States. Up to  $500 million  in new transactions could be
financed as a result of the initiative.

(Logo:  http://photos.prnewswire.com/prnh/20110414/MM83673LOGO)  

ICICI Bank is  India's largest private sector Bank and this MOU will support the
financing of U.S. goods and services by ICICI Bank's customers. Ex-Im and ICICI
Bank see specific opportunities in air traffic control and infrastructure;
railway; urban metro and port development projects; power generation, including
renewable energy; oil and gas projects; and water treatment projects.  

In  Mumbai, Hochberg also met with local officials and identified new business
opportunities for U.S. exporters in the power, energy, and manufacturing
sectors. He also met with several leading business organizations, including
members from the U.S.-India Importers Council and the Confederation of Indian
Industry.  

"India  is an emerging market that provides enormous opportunities for U.S.
companies," said Ex-Im Bank Chairman  Fred P. Hochberg. "This  $500 million  MOU
represents a partnership between our two countries and will help ensure that
American companies and workers help  India  meet its growing infrastructure
needs, while creating jobs here at home."

Speaking on the occasion,  Chanda Kochhar, MD & CEO, ICICI Bank said, "ICICI
Bank is pleased to be working with the U.S. Ex-Im Bank  towards the growth of
India-US trade. This MOU combines the strengths and expertise of both our
institutions, helping U.S. Ex-Im to leverage ICICI Bank's strong corporate
relationships and project finance capabilities, and ICICI Bank to offer diverse
funding options to its clients."

Ex-Im Bank's authorizations in  India  continue to increase dramatically,
bringing the Bank's total exposure to  India  to  $8.5 billion  as of the end of
the first quarter in FY 2013.  India  is currently the Bank's second largest
market in terms of overall exposure. Last year, U.S. Ex-Im Bank  financed 17
percent of all U.S. exports to  India.

India  is one of nine key markets (others are  Mexico,  Brazil,  Colombia, 
Turkey,  South Africa,  Nigeria,  Indonesia  and  Vietnam) where Ex-Im Bank is
focusing its business-development efforts because of the country's
infrastructure and development needs.

About ICICI Bank Ltd:

ICICI Bank Limited (NYSE:IBN) is  India's largest private sector bank and the
second largest bank in the country, with consolidated total assets of US  $ 122
billion  at  December 31, 2012. ICICI Bank's subsidiaries include  India's
leading private sector insurance companies and among its largest securities
brokerage firms, mutual funds and private equity firms. ICICI Bank's presence
currently spans 19 countries, including  India.

About US Ex-Im Bank:  

Ex-Im Bank  is an independent federal agency that helps create and maintain U.S.
jobs by filling gaps in private export financing at no cost to American
taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned
for U.S. taxpayers nearly  $1.6 billion  above the cost of operations. The Bank
provides a variety of financing mechanisms, including working capital
guarantees, export-credit insurance and financing to help foreign buyers
purchase U.S. goods and services.

Ex-Im Bank  approved nearly  $35.8 billion  in total authorizations in FY 2012 -
an all-time Ex-Im record. Ex-Im Bank's total authorizations are supporting an
estimated  $50 billion  in U.S. export sales and approximately 255,000 American
jobs. For more information, visit  www.exim.gov.

SOURCE  Export-Import Bank of  the United States


Jamie Radice +1-202-565-3200

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