OREANDA-NEWS. KfW IPEX-Bank has concluded a framework agreement with the Hong Kong Branch of ICICI Bank Limited, headquartered in India. The document outlines their future intention to provide long-term financing to ICICI Bank, who in turn will provide finance to enable Indian companies to import German and European equipment and services into India. These imports are predominantly aimed at improving productivity of Indian companies, enhancing product quality and thereby improving their competitiveness. Through this partnership, ICICI Bank and KfW IPEX-Bank are laying the foundation for successful collaborative growth in India and also supporting German and European exporters at the same time. KfW IPEX-Bank’s finance to ICICI Bank will be covered by European State credit insurance.

ICICI Bank Limited is India’s largest private bank. Hong Kong Branch of ICICI Bank is, inter-alia, responsible for facilitating export finance transactions.