The Export-Import Bank of the United States (US Exim) has signed a Memorandum of Understanding with India’s ICICI Bank.

The MOU is worth a potential US$500mn and will see both parties finance new projects beneficial to both the US and India.

A US Exim spokesperson confirms to GTR that the sectors both banks have in mind are air traffic control and airport infrastructure, railway, urban metro and port development projects, power generation and renewable energy, oil and gas and water treatment projects.