The Hindu Business Line : JBIC, ICICI Bank in pact

The Japan Bank for International Cooperation (JBIC) on Friday signed a cooperation agreement with ICICI Bank for promoting clean development mechanism (CDM)-related projects in India.

The agreement would promote CDM-related projects through JBIC financing and support acquisition by Japanese firms of greenhouse gas (GHG) emission reduction credits generated from such products.

Under the agreement, both banks would exchange information on prospective CDM projects in India. JBIC would provide information to Japan Carbon Finance Ltd (JCF) as well as other interested Japanese firms. Both banks would consider financial support for CDM projects by drawing on their financing facilities and provide advice mutually on their financing activities.

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