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



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

PR Newswire

MUMBAI, India, Feb. 7, 2013

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

Website: http://www.exim.gov
Contact: Jamie Radice +1-202-565-3200
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