ICICI Bank signs MoU with MITCON

Mumbai Aug 13, 2007 – India’s largest private sector bank ICICI Bank Ltd. signed a memorandum of understanding with MITCON consultancy services Ltd. to service firms engaged in clean development mechanism project & emission trade including carbon credit business.

As per the memorandum of understanding, ICICI Bank & MITCON will work together for generating business leads for all services related to carbon credit business.

MITCON will provide services related to project identification, registration with the CDM executive board & recurring verifications while ICICI Bank will provide services related to commercialization of certified emission reduction certificates, coordination services & banking- related services.

Both will also collaboratively explore joint development of generating business leads for debt financing project. In addition to the MoU, Mitcon will work as a resource agency for guiding SMEs on carbon credit and green projects.

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