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Japan's three megabanks and JBIC to provide ¥250 billion in loans for U.S. projects
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Japan's three megabanks and JBIC to provide ¥250 billion in loans for U.S. projects

The Japan Times·No Author·about 1 month ago
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Japan's three megabanks and the government-backed Japan Bank for International Cooperation plan to provide ¥250 billion (about $1.5 billion) in loans for the first round of projects in the United States under the Japan-U.S. tariff agreement. The entities are expected to invest additional funds in stages later on, informed sources said Friday. The first-round projects are the construction of a gas-fired thermal power plant in Ohio, the development of crude oil export facilities and the production of synthetic diamonds. The total value of the three projects is expected to reach $36 billion. One-third of the planned loans will be provided by JBIC and two-thirds by the megabanks — MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank. Loans by the three banks will be guaranteed by state-backed Nippon Export and Investment Insurance (NEXI). In exchange for lower U.S. tariffs, Japan has pledged to provide up to $550 billion in loans and investments to the United States.…

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