Feature Article 2023 JBIC Act Amendment: Three Key Points (3)
In the context of supporting recovery of Ukraine, JBIC can now guarantee private sector loans
by international financial institutions for reconstruction projects.
Ability to guarantee international institution loans
It is now possible to provide financial support for projects under international collaboration, such as assistance for Ukraine’s recovery
JBIC has been providing guarantees for loans extended by private financial institutions, but for overseas recovery and development projects, only borrowings from banks, foreign financial institutions, and foreign governments could be guaranteed. To support the recovery of Ukraine after the Russian invasion, loans by international financial institutions are now eligible for guarantee.
This is in line with one of JBIC’s missions: “maintaining international financial order” (Ordinary Operations Account).
the Ukraine Investment Platform
under the leadership of JBIC
JBIC, development finance institutions from the G7 countries, and the European Bank for Reconstruction and Development, agreed in May 2023 to establish the Ukraine Investment Platform. By pooling knowledge and experience, and coordinating effectively, the participating institutions will financially support Ukraine’s recovery. Participating Institutions:
JBIC, Japan International Cooperation Agency (JICA), Cassa Depositi e Prestiti (CDP, Italy), FinDev Canada (Canada), PROPARCO (France), U.S. International Development Finance Corporation (DFC, the U.S.), British International Investment (BII, the U.K.), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG, Germany)
Participating Institutions:
JBIC, Japan International Cooperation Agency (JICA), Cassa Depositi e Prestiti (CDP, Italy), FinDev Canada (Canada), PROPARCO (France), U.S. International Development Finance Corporation (DFC, the U.S.), British International Investment (BII, the U.K.), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG, Germany)