Japanese banks back coal links between Japan and Africa
Japan Bank for International Cooperation (JBIC) and a syndicate of lenders have provided a $2.73bn loan to finance the construction of a railway and upgrade a port in Mozambique, which will ensure the long term supply of coal to Japan from the African country.
JBIC provided $1.03bn of the deal with the rest provided by African Development Bank, Sumitomo Mitsui Banking Corporation (SMBC), Mizuho, Standard Chartered, Nippon Life Insurance Co, MUFG and Sumitomo Mitsui Trust Bank.The private financial institutions’ commitments are insured by two export credit agencies — ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org