- Region: Asia
- Environment
- Others
April 1, 2008
- Japan Bank for International Cooperation (JBIC; Governor: Koji Tanami) established today the JBIC Facility for Asia Cooperation and Environment (FACE). Its objectives are to mobilize private capital to the maximum extent possible by using equity participation and guarantees in JBIC's International Financial Operations and to support the projects contributing to mitigating climate change and promoting projects for cooperating with Asian countries.
- Through FACE, JBIC intends to make vigorous efforts to support its targeted projects, while mobilizing private capital for them. Specific financing operations include (1) making equity contributions (equity participation) to the funds investing in the projects mitigating climate change in such area as energy efficiency and renewable energy as well as individually making equity investment and providing guarantees for private-sector bank lending in the projects in such area; and (2) making equity contributions to the funds investing in Asian infrastructure development projects as well as individually making equity investments and providing guarantees for private-sector bank lending in the projects in such area.
- In preparation for implementing equity participation and guarantee operations under FACE, JBIC has received a 20-billion capital contribution from the Japanese government's Fiscal Loan Fund Special Account (investment account) to its International Financial Operation account in the fiscal 2008 budget.
Appendix 1 Schematic Illustration of JBIC FACE
Appendix 2 Outline of FACE