ICICI Bank on  signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) to establish a strategic partnership in the areas of bond issuances, co-financing, treasury management and human resources.

ICICI Bank became the first financial institution in India to sign the pact with NDB.

• It will enable NDB to leverage the deep market access and insight of ICICI Bank in India’s financial markets.

• It will help NDB to explore at tapping the rupee-denominated bonds in all the markets.

• It will to build a long-term, stable and mutually beneficial relationship in the areas of bond issuances, co-financing, treasury management and human resources.

• It will make both the lenders collaborate to fund development projects in India.

• With this MoU, both the banks treat each other as preferred partners and will harness their respective resource advantages and professional expertise.

• This partnership will bring opportunities to both the parties to work together in the areas of resource raising, development finance and treasury risk management.