- Region: Oceania
- Energy and Natural Resources
- Import Loans
January 15, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to JPY11 billion (JBIC portion) with Hokkaido Electric Power Company Incorporated (HEPCO). This loan was provided in coordination with the loans to HEPCO by Japanese private financial institutions and Development Bank of Japan Inc. (DBJ).
The loan is to finance the import of fuels for thermal power generation (crude oil and coal) by HEPCO. In the aftermath of the Great East Japan Earthquake, a stable supply of electricity is recognized as an urgent issue for the lives of Japanese people and national economic activity. Looking forward to the near futures in this context, stable and sustained procurement of fuels for thermal power generation, including crude oil and coal, have become more important than ever as primary sources of energy.
This loan will support a stable supply of electricity—a crucial factor for the Japanese to lead their lives—by securing a stable supply of energy resources to Japan through support for HEPCO in procuring fuels for thermal power generation.
As Japan's policy-based financial institution, JBIC will continue to actively support Japanese companies to secure a stable supply of natural resources that are strategically important for Japan by drawing on its various financial facilities and schemes, thereby contributing to Japan's energy security.