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JBIC Finance. June 15, 2005. Katsunori Kudo Resident Executive Director for the Americas Japan Bank for International Cooperation. ALIDE35, Rio de Janeiro. Outline of JBIC P.2 Role and Function of JBICP.12 ConclusionP.17 Clean Development Mechanism P.20

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Katsunori Kudo Resident Executive Director for the Americas

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Katsunori kudo resident executive director for the americas

JBIC Finance

June 15, 2005

Katsunori Kudo

Resident Executive Director for the Americas

Japan Bank for International Cooperation

ALIDE35, Rio de Janeiro


Table of contents

Outline of JBIC P.2

Role and Function of JBICP.12

ConclusionP.17

Clean Development Mechanism P.20

Recent JBIC Press Release on Latin AmericaP.26

Contact Lists P.28

(Reference)

Address by Prime Minister Junichiro Koizumi

on the Latin America and Caribbean Policies

(Extract)P.29~P.35

Table of Contents


Katsunori kudo resident executive director for the americas

Profile of JBIC

Name : Japan Bank for International Cooperation (JBIC)

Establishment: October 1, 1999

Purposes : Contributing to the sound development of the

Japanese economy as well as international economy,

under the principle that it will not compete with

financial institutions in the private sector,

through lending and other operations for:

1.Promotion of Japanese exports, imports or

Japanese economic activities overseas

2.Stability of international financial order

3.Economic and social development


Katsunori kudo resident executive director for the americas

Operation of JBIC

Principles

1. Policy-Lending Institution to Implement Japan’s External Economic Policy

2. Complementing and Encouraging Private-Sector Financial Institutions

3. Ensuring Financial Soundness

International

Financial

Operations

(IFO)

Overseas

Economic

Cooperation

Operations

(OECO)

  • Export loans

  • Import loans

  • Overseas Investment loans

  • Untied loans

  • Equity participation

  • etc.

  • Official Development Assistance (ODA) loans

  • Studies

Sources of Funds

Sources of Funds

  • Borrowings from Fiscal Investment and

  • Loan Program (FILP)

  • Bond Issues

  • Internal Funds, etc.

  • Capital Contributions from the Government

  • Borrowings from FILP

  • Internal Funds, etc.

The primal objective of International Financial Operations is to contribute to the promotion of Japanese exports and imports, as well as Japanese economic activities overseas, and to the stability of international financial order.

The primal objective of Overseas Economic Cooperation Operations is to assist developing countries in their efforts to develop economic and social infrastructure and stabilize their economies.


Katsunori kudo resident executive director for the americas

Development Assistance Department IV

Latin America and the Caribbean, Africa (excluding Egypt) and Central Asia and Caucasus

Development Assistance Department III

South Asia (exc. Bangladesh & Sri Lanka), Middle East, Central & Eastern Europe, Russia

Development Assistance Department II

East Asia, Cambodia, Laos, Viet Nam, Bangladesh and Sri Lanka

Development Assistance Department I

Southeast Asia (excluding Cambodia, Laos and Viet Nam)

Sector Strategy Development Department

Project Development Department

Administration and General Services Department

Treasury Department

Policy Planning and Coordination Department

Personal Department

Audit Department

Legal Department

Loan Administration and Information Systems Department

Development Assistance Strategy Department

Development Assistance Operations Evaluation Office

Accounting Office

Public Relations Office

Information Systems Office

Organization Chart

Governor

Deputy Governor and Managing Directors

Senior Executive Directors

Executive Directors

Special Advisor

Secretariat Office

Analysis

Operation (OECO)

Operation (IFO)

Administration & Support

International Finance Department III

North America and Latin America and the Caribbean

International Finance Department II

Central Asia and the Caucasus, Pakistan, Afghanistan, the Middle East, Africa and Europe

International Finance Department I

Asia (excluding Central Asia and the Caucasus, Pakistan and Afghanistan)

Overseas Representative Offices

Osaka Branch

JBIC Institute

Project Finance Department

Corporate Finance Department

Energy and Natural Resources Finance Department

Policy and Strategy Department for International Financial Operations

Environment Analysis Department

Country Economic Analysis Department

Credit Analysis Department

Advisory and Consulting Office for SME

Industrial Research Office


Katsunori kudo resident executive director for the americas

JBIC Worldwide Network

29 Offices in the World

London

Paris

Frankfurt

Moscow

Beijing

Toronto

New York

Islamabad

Tokyo

Washington D.C.

Hanoi

Osaka

Cairo

Hong Kong

New Delhi

Manila

Mexico City

Bangkok

Colombo

Nairobi

Bogota

Dhaka

Kuala Lumpur

Jakarta

Rio de Janeiro

Singapore

Lima

Buenos Aires

Sydney


Katsunori kudo resident executive director for the americas

JBIC Commitments to the Latin America

(by type, average amount in each period)


Katsunori kudo resident executive director for the americas

Outstanding Balance of IFO Loans

JBIC’s (IFO) Loans to the World:

Total US$ 77,980 million

IFO Loans to Latin America:

Total US$13,464 million

As of March 2005 (Exchange Rate: JPY109/US$)


Katsunori kudo resident executive director for the americas

Total ODA Loan Commitments

JBIC’s ODA Commitments to the World:

Total US$210,104 million

JBIC’s ODA Commitments to Latin America:

Total US$13,683 million

As of March 2005 (Exchange Rate: JPY109/US)


Katsunori kudo resident executive director for the americas

(1) The main loans for Latin America in 2004-2005


Katsunori kudo resident executive director for the americas

(2) Existed Loans for ALIDE Members


Katsunori kudo resident executive director for the americas

(3) Candidate Loans for ALIDE Members


Katsunori kudo resident executive director for the americas

JBIC’s International Financial Operation

JBIC’s International Financial Operations (IFO) is conducted according to the following Objectives.

  • Promote Japanese Exports and Imports

  • Support Japanese Direct Investment in Developing Economies

  • Promote Local Industries in Developing Economies

  • Ensure the Stability of International Financial Order


Katsunori kudo resident executive director for the americas

JBIC’s International Financial Operation

Overseas Investment Loans

Export Loans

Loans to support Japanese direct investment in developing countries.

  • Loans for the export of goods and services by Japanese firms.

  • To be provided to Japanese exporters

  • (Supplier’s Credit (S/C))

  • 2.To be provided to foreign importers (Buyer’s Credit (B/C))

  • 3.To be provided to foreign financial institutions

  • (Bank Loan (B/L))

Foreign

Government/

Bank etc.

Loans

JBIC

Loans and/or

Equity Investment

Loans

Joint

Venture

Foreign

Financial

Institutions

JBIC

Loans(B/L)

Loans

Loans and/or

Equity Investment

Loans (B/C)

Equity Investment

Loans (S/C)

Loans

Japanese

firms

Joint

Venture

Partner

Loans

Japanese

Exporter

Foreign

Importer

Export of plants, etc.

Project in the recipient country

Loans


Katsunori kudo resident executive director for the americas

JBIC’s International Financial Operation

Untied Loans

Guarantee to Private Syndicated Loan

Lending facility that aims at creating an external environment conductive to Japan’s global economic activities, including trade and investment, and supporting structural adjustment in developing countries etc. (not conditional on the procurement of equipment or machinery from Japan.)

Guarantees provided to loans extended by commercial banks, etc. and to sovereign bonds and bonds issued by public entities.

Investors

Guarantees

JBIC

Exporter

Issues of Public

Bonds etc.

JBIC

Foreign

Government

etc.

Loans

Imports of equipment, technology

Foreign

Government/

Bank/Firm

etc.

Foreign

Importer

Loans

Loans

Private

Financial

Institutions

Guarantees

Investment

Project in the recipient country

Note: No compete to the Export Loans


Katsunori kudo resident executive director for the americas

JBIC’s Overseas Economic Cooperation Operation

The principal purpose is to assist developingcountries in their efforts to develop economic andsocial infrastructure and stabilize their economies.

ODA* Loans: Low-interest and long-term loans to assist developing countries in their self-help efforts toward sustainable economic development, by financing the building of their economic and social infrastructure (“Basic Strategy of Japan’s ODA Loan”: See P.16)

Studies: Studies required to implement the above operations

*ODA: Official Development Assistance


Basic strategy of japan s oda loan

Basic Strategy of Japan’s ODA Loan

Latin American Region

In the Latin American region, destruction of valuable ecosystems in Amazon and other areas, and air pollution and water contamination in cities have become increasingly serious problems. We will thus give high priority to①assistance for environmental protection projects. In this region, wide economic and income disparities exist among regions inside individual countries. We will therefore place high priority on ②assistance relating tothe construction of economic and social infrastructure to rectify such gaps, ③human resource development, restoration of employment and safety, and ④poverty reduction. Furthermore, promotion of regional integration is believed to be the key to future development of an economic society in this region. For this reason, we will place high priority on ⑤assistance to regional integration initiatives. When providing such assistance, we will assign importance to coordination of efforts with international organizations, bilateral aid organizations and other stakeholders in view of the specific needs and actual conditions of each country as well as the trends towards regional integration. In addition, we will energetically take on intellectual cooperation and technical assistance.

Source : Medium – Term Strategy for Overseas Economic Cooperation Operations (April 1, 2005 – March 31, 2008) April, 2005

Japan Bank for International Cooperation (JBIC)


Latin america and jbic

How JBIC is working with the Latin American governments to promote Japanese investments in the region and what types of projects you are considering in accordance with Japanese government policy?

Next page you are able to find out my simple answer.

Latin America and JBIC


Major areas for establishment of complementary relationship between latin america and jbic

JBIC Support

DFI Support

Major Areas for Establishment of Complementary Relationship between Latin America and JBIC

Natural Resources & Food

Latin America

Infrastructure

CDM Projects

Japan

Manufacturing Industry/SME

Strengthen Economic Ties between Latin America and Japan

DFI : Development Financing Institutions

SME: Small or Medium Sized Enterprise


Katsunori kudo resident executive director for the americas

MDGs : Poverty Reduction

Economic Growth

FDI

Trade

Infrastructure

JBIC

PrivateFlows

Official Flows

ODA,OOF

MDGs and JBIC

MDGs: Millennium Development Goals


Jbic s engagement to kyoto mechanisms

JBIC’s contribution to Prototype Carbon Fund (PCF) of World Bank(Committed Total Amount: USD180 million)

Committed USD10 million along with 8 Japanese companies (May 2000)

Support for the Capacity Building in the Host Countries

Support for Mobilizing Institutional Framework, having a seminar regarding Kyoto Mechanisms

Financial Support for CDM/JI Projects through:

International Financial Operations (Export loan, Overseas investment loan, Untied loan, Guarantee, Equity participation), and

Overseas Economic Cooperation Operations (ODA loan)

Establishment of the Japan Greenhouse Gas Reduction Fund (JGRF) and Japan Carbon Finance,Ltd. (JCF)

The first GHG Reduction Fund in Asia to contribute the achievement of the GHG Reduction target of Japan defined by Kyoto Protocol, and to contribute the sustainable growth in Non Annex I countries

JBIC’s Engagement to Kyoto Mechanisms


General outlines of japan carbon finance ltd jcf

(1) Objectives : To purchase CERs and ERUs (ERs) issued for the crediting period until 2012 from CDM/JI Projects

(2) Fund Pool : Called “Japan GHG Reduction Fund (JGRF)”, which JCF can utilize to purchase ERs

(3) Committed Fund Amount: Approx. USD 140 million

(4) Establishment: December 1, 2004

(5) Location: Tokyo, Japan

(6) Fund Providers: Major Japanese Private Enterprises & Policy-lending Institutions

JCF was established by some of Major Fund Providers including Japanese Policy-lending Institutions (JBIC, Development Bank of Japan).

(7) Project Development Cost (PDD Preparation, Validation, etc.): To be borne by JCF in principle with a certain ceiling

(8) Timing of Payment : Payment on Delivery in principle (Upfront Payment is to be made on case-by-case basis)

General Outlines of Japan Carbon Finance,Ltd. (JCF)


General outlines of japan carbon finance ltd jcf1

General Outlines of Japan Carbon Finance,Ltd. (JCF)

Relationship between JCF & JGRF

CDM/JI

Project

Entities

(ERs

Seller)

Japan Carbon

Finance, Ltd.

(ERs Buyer)

Japan GHG

Reduction

Fund

(Fund Pool)

Payment

Payment

Emission Reduction Resale Agreement

Emission Reduction Purchase Agreements (ERPAs)

ERs

ERs


Katsunori kudo resident executive director for the americas

JCF/JBIC Collaboration Scheme

*Fund Provision through JGRF

JBIC

Loan

Agreement (L/A)

Emission Reduction Purchase Agreement

(ERPA)

JBIC

*

CDM/JI

Project

(ERs Seller)

JCF

(ERs Buyer)

*

DBJ

Japanese

Commercial

Banks

*

Japanese

Company

A

*

*

Japanese

Company

B

Underlying Finance

(Untied Loan, Export credit, Overseas investment loan, ODA loan, etc)

Payment for ERs

generated during the

Crediting Period of the Project

Japanese

Company

C

・・・


Katsunori kudo resident executive director for the americas

Example Model for Underlying Finance

provided for CDM Projects by JBIC

JBIC

Overseas Investment Loan

Equity Investment

Untied Loan, etc

Government or

Financial Intermediary

JCF

Japanese Companies

orJapanese J/V

Purchase of CER

(Carbon Finance)

On-lending for equipment, working capital etc

Debt Investment

and/or Sponsorship

CDM/JI

Projects


Advantages of jbic s financing for cdm ji projects

Strong relationship with host country (government agencies and private sector) built through years of financing operations and our overseas networks of representative offices

⇒Smooth Implementation of Projects

Collaboration and Support with/from JBIC Underlying Finance

Extensive knowledge and know-how in dealing with environmental projects in developing countries

Intermediary Functions: Close and Tight Relationship with Japanese Industry having interest in CDM/JI Projects

Accumulation of experience through investment in PCF

Advantages of JBIC’s financing for CDM/JI Projects


Katsunori kudo resident executive director for the americas

Recent JBIC Press Release on Latin America

JBIC Signs Cooperation Agreement on the Kyoto Mechanisms with Corporación Andina de Fomento(CAF):

Partnership to Help Achieve Japan's GHG Emissions Reduction Target (April 5, 2005)

Website:http://www.jbic.go.jp/autocontents/english/news/2005/000030/index.htm

JBIC Signs Cooperation Agreement on the Kyoto Mechanisms with the Colombian Government:

Partnership to Help Achieve Japan's GHG Emissions Reduction Target (April 11, 2005)

Website:http://www.jbic.go.jp/autocontents/english/news/2005/000034/index.htm

JBIC Provides Investment Two-Step Loan to BANCOMEXT:

Supporting Japanese Firms' Investment Activities in Mexico through the Cooperation of Two Governmental Financial Institutions in Line with the Japan-Mexico Economic Partnership Agreement (April 12, 2005)

Website:http://www.jbic.go.jp/autocontents/english/news/2005/000035/index.htm

JBIC Signs Memorandums of Understanding with the IDB Group and Other Parties:

Strengthening Mutual Ties for the Support of Japanese Business Activities in Latin America and the Caribbean (April 12, 2005)

Website:http://www.jbic.go.jp/autocontents/english/news/2005/000039/index.htm


Katsunori kudo resident executive director for the americas

Recent JBIC Press Release on Latin America

  • JBIC Signs Loan Agreement and Memorandums with

  • Brazil's Public and Private Sector Entities:

  • Strengthening Partnerships to Further Consolidate Bilateral Economic Relations

  • Japan Bank for International Cooperation (JBIC; Governor: Kyosuke Shinozawa) signed today(May 27, 2005) a loan agreement and four memorandums with Brazilian government, governmental institution and energy and natural resources companies, respectively. Governor Shinozawa and the respective representatives of the organizations signed and exchanged these documents on the occasion of the economic and trade promotion event held in Tokyo attended by President Lula da Silva of Brazil. 

  • (1) Loan Agreement

  • An Untied Two-Step Loan to Banco National de Desenvolvimento Econômico e Social (BNDES) for Promoting Infrastructure Development and Export

  • (2) Memorandums

  • (a) A Memorandum on Cooperation on the Clean Development Mechanism (CDM) with the Ministry of Science and Technology

  • (b)①A Memorandum of Understanding (MOU) for Strategic Partnership as well as ②an MOU on the REVAP Refinery Modernization Project with Petróleo Brasileiro S.A.(Petrobras)

  • (c) An MOU with Companhia Vale de Rio Doce (CVRD) on the Logistics Infrastructure Program

  • Website:http://www.jbic.go.jp/autocontents/english/news/2005/000045/index.htm


Katsunori kudo resident executive director for the americas

For more information, please contact to

International Finance Department III(Tokyo)

PHONE:81-3-5218-3060 FAX:81-3-5218-3965

Development Assistance Department IV(Tokyo)

PHONE:81-3-5218-3717 FAX:81-3-5218-3973

Representative Office in Bogota TEL:57-1-629-2436 FAX:57-1-629-2707

Representative Office in Buenos Aires TEL:54-11-4394-1379 FAX:54-11-4394-1763

Representative Office in Lima TEL:54-1-442-3031 FAX:51-1-440-9657

Representative Office in Mexico CityTEL:52-55-5525-67-90 FAX:52-55-5525-34-73

Representative Office in New YorkTEL:1-212-888-9500 FAX:1-212-888-9503

Representative Office in Rio de JaneiroTEL:55-21-2553-0817 FAX:55-21-2554-8798

Representative Office in Washington, D.C.TEL:1-202-785-5242 FAX:1-202-785-8484

Website: http://www.jbic.go.jp/english/


Katsunori kudo resident executive director for the americas

Reference

Address by Prime Minister Junichiro Koizumi on the Latin American and Caribbean Policies- Toward a New Japan-Latin America and Caribbean Partnership – (Extract)(Venue: a luncheon meeting hosted by the Governor of Sao Paulo)September 15, 2004


A vision for a new japan latin america and caribbean partnership

Reference

("A Vision for a New Japan - Latin America and Caribbean Partnership")

Ladies and Gentlemen,

Divided by the Pacific Ocean but facing each other, East Asia and Latin America are the most dynamically developing regions in the world.

To strengthen our efforts in tapping into the "great potential" for our mutual benefit, we need to follow the two guiding principles of "Cooperation" and "Exchange.“

<- Cooperation ->

The first principle is "Cooperation." It consists of two pillars; "reactivating the economic relationship" and "addressing challenges of the international community."


Katsunori kudo resident executive director for the americas

Reference

To realize the latent potential of Japan and Latin America, the most important issue is reactivating our economic relationship.

Latin America possesses the dynamism of development, a market of 530 million people, a wide expanse of land, rich natural resources, and an excellent, young workforce.

On the other hand, Japan has experience in developing an economy based on democracy and the marketplace, the world's second largest economy, an abundant workforce, capital, and cutting-edge technology.


Katsunori kudo resident executive director for the americas

Reference

I am confident that if Japan and Latin America, who possess such complementary characteristics, decide to cooperate, it will lead to mutual benefits for both parties.

Energy, minerals, and edible resources are indispensable to making possible the sustained growth of the world economy. Endowed with energy and rich natural resources, Latin America continues to grow in importance.

To my country, which has few natural resources, securing a stable supply of resources in the mid to long term is an issue of grave importance.


Katsunori kudo resident executive director for the americas

Reference

During the 1960s and the 1970s, Japan invested heavily in various sectors of Brazil, including ① iron manufacturing, ② pulp, ③ aluminum, and ④ agricultural ventures, as part of a national project to develop Brazilian resources. Many Japanese enterprises moved to Brazil and contributed to the country's economic development.

I also want to highlight the Initiative for the Integration of Regional Infrastructure in South America, the Plan Puebla-Panama, and other initiatives being promoted in both South and Central America in promoting the unification of Latin America.


Katsunori kudo resident executive director for the americas

Reference

Rugged mountains and lush green forests divide Latin America into large expanses. If infrastructure projects could join the region north to south and east to west, then both the promotion of regional integration and the development of the entire region would more quickly accelerate.

Recognizing that the maintenance of infrastructure is an important postulate of economic and social development, my country is distributing approximately $4.6 billion of cooperation for Latin American countries in that same area.


Katsunori kudo resident executive director for the americas

Reference

In order to make the sustainable prosperity of the world community possible, we also need to strike a balance between economic development and protecting the environment.

Through the Three R's--Reduce, Reuse, Recycle--I hope to build a sound material-cycle society on a global level. Global warming is also a problem of great magnitude and urgency, one that cannot be set aside, even for an instant.

In December of this year, the 10th session of the Conference of the Parties to the U.N. Framework Convention on Climate Change (COP10) will be held in Buenos Aires, where Latin America's leadership will be sought and highly valued. I hope we can work together to achieve early entry into force of the Kyoto Protocol, so we can leave a better earth for the next generation.


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