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JBIC Signs A Loan Agreement Of USD 100 Mn With Other Financial Institutions
The loan is co-financed with MUFG Bank, Hachijuni Bank, and Bank of Kyoto
Photo Credit :
The Japan Bank for International Cooperation (JBIC) on Monday had signed a loan agreement of up to USD 100 million. JBIC's portion in it is USD 60 million, with the Export-Import Bank of India (EXIM-India), a policy-based financial association wholly owned by the Government of India, taking the opportunity of the Japan-Australia-India-U.S.
The loan is co-financed with MUFG Bank, Hachijuni Bank, and Bank of Kyoto. JBIC will also provide a guarantee for the co-financed portion by the private financial institutions.
This loan will financially support, through EXIM-India, the Indian healthcare sector related to COVID-19 including vaccine manufacturers and pharmaceutical companies.
The loan is a symbolic transaction, demonstrating the Quad Partners' strong unity and robust commitment to the Indo-Pacific region, while also enhancing the bilateral cooperation between Japan and India, as they celebrate the 70th anniversary of the establishment of diplomatic relations between the two countries.