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Second Credit Line for CABEI under GREEN Operations
Supporting Energy Efficiency Projects in Central America as part of Promoting Quality Infrastructure Investment for Environmental Preservation and Sustainable Growth

  • Region: Latin America and the Caribbean
  • Environment
  • Untied Loans
November 12, 2018
  1. The Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) signed on November 6, a loan agreement to set up a credit line (Credit Line) totaling up to USD100 million (of which JBIC's portion is USD50 million) with the Central American Bank for Economic Integration (CABEI) *1 as part of JBIC's Global Facility to Promote Quality Infrastructure Investment for Environmental Preservation and Sustainable Growth (QI-ESG *2). This credit line is co-financed with Mizuho Bank, Ltd. (lead-arranger), The Bank of Yokohama, Ltd., The Bank of Saga Ltd., The Joyo Bank, Ltd., Tsukuba Bank, Ltd., and The Hachijuni Bank, Ltd., with JBIC providing a partial guarantee for the co-financed portion.
      
  2. This credit line is intended to finance, through CABEI, smart energy projects such as maintenance and upgrading of energy transmission and distribution networks in Central America, as part of GREEN operations. It is the second GREENcredit line extended to CABEI, following the first one set up in December 2011*3.
      
  3. CABEI is a multilateral regional financial institution in the Central American region. Its objective is to promote the economic integration and balanced economic and social development of the Central American region, which includes the founding countries and the non-founding regional countries, attending and aligning itself with the interests of all of its member countries. It has a major presence in the region as a stable supplier of long-term financing and advocates "environmental sustainability" as a component of its business strategy by placing enhanced priority of financial support in the areas of renewable energy and efficient energy transmission and distribution networks. JBIC and CABEI have built up close cooperative ties since the late 1960s through loans financing Japanese exports of machinery and equipment to Central American countries and their infrastructure projects. This loan, which finances the environment sector, will further deepen cooperative relations between the two institutions.
      
  4. As Japan's policy-based financial institution, JBIC will continue to support global environmental preservation efforts in cooperation with regional financial institutions by drawing on its various financial facilities and programs for structuring projects, and performing its risk-assuming function.
      
Note
  1. *1 
    It is known also by its Spanish acronym BCIE (Banco Centroamericano de Integración Económica).
  2. *2 
    JBIC launched QI-ESG on July 1, 2018. This facility is aimed to provide a wide range of financing support for infrastructure development which is expected to help to preserve the global environment, including energy efficiency projects. For more details, see Announcement on June 28, 2018.
  3. *3 
    See Press Release on December 1, 2011.

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