DFC-ICICI X

closed

The Tenth Industrial Credit Project will finance the foreign exchange cost of industrial projects carried out by productive enterprises in India. ICICI remains a credit worthy borrower and it is a financial intermediary through which the Bank can continue to play an important role in providing assistance to Indian industry. The amount of the loan has been proposed in relation to ICICI's financing requirements. The use of the proposed loan would be limited to expenditures abroad; the terms would follow those of recent Bank loans to development finance companies, including the standard commitment charge. As in the previous loan, only those projects which need more than US $4 million of ICICI's resources, including Bank funds, will require the approval of the Bank.