JBIC to extend Rs 439 crore loan to Indian importers

 The Japan Bank for International Cooperation (JBIC) has signed an agreement with ICICI Bank for extending an export credit line of up to $30 million for financing renewable energy projects.
The loan will be co-financed by private financial institutions and the overall cofinancing amounts to the equivalent of $50 million, JBIC said.

This credit line, being the first offered by JBIC for supporting the export of renewable energy related equitpments, is intended to provide medium and long-term US dollar or yen-denominated credit to finance through private sector lender ICICI Bank, thereby supporting expanding exports to India, JBIC added.