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ICICI Bank signs MOU with New Development Bank

ICICI BankLtd. signed a memorandum of understanding with New Development Bankto cooperate on bond issuances, cofinancing, treasury management and humanresources.

ICICI Bank said May 5 that it will help New Development Bankexplore bond issuance opportunities in the Indian and international bondmarkets. The two banks will also collaborate in the fundingdevelopment projects in India and partner in the areas of treasury riskmanagement, account and cash management services and human resource development.

New Development Bank is a multilateral development bankestablished by theBRICS nations: Brazil, Russia, India, China and South Africa.