JBIC
Operations in
AfricaYour Contact Point

Japan Bank for International Cooperation
Planning and Coordination Division
Energy and Natural Resources Finance GroupE-mail/B0190@jbic.go.jp
Phone/+81-3-5218-3061
December, 2020

Supporting Your Challenges
What’sin Africa
JBIC

Japan Bank for International Cooperation (JBIC) is a policy-based financial institution with the objective ofcontributing to the sound development of Japan and the international economy and society. Encouraging
business activities of Japanese companies in Africa is one of our recent key focus areas.

3 JBIC Medium-term Business Plan
（ JFY2018 -2020 ）Key Focus Areas (Business Areas)

1 Growth areas, new fields
2

1

1

JBIC Profile

To take strategic actions topromote innovation

Corporate Profile

Policy-based finance
JBIC provides policy-based finance with theJapan Bank for International
Cooperation-JBIC

Name

mission of contributing to the sounddevelopment of Japan, the international
economy and society as a whole.

Governor

Tadashi Maeda

Capital

100% Japanese Government-owned:
JPY 1,883 bil.

Commitments
Amount(JFY 2019）

JPY 1,678 bil.
(approx. USD 15.4 bil.)⃝Establishment/strengthening of the framework

Outstanding
Amount（As of
March 31, 2020)

JPY 15,657 bil.
(approx. USD 143.8 bil.)⃝Securing of debt sustainability

Number of
Employees

636 (as of March 31, 2020)

Overseas
Representative
Offices17 (London, Paris and Dubai Representative
Offices are responsible for Africa)

3

To support Japanese companies in

To promote energy and natural

expanding into frontier markets

resource projects in response to(including Africa)

the new market environment

2 Overseas infrastructure development
3 Global environmental preservation
4 M & As
5 Consistent implementation of policy-based
finance and restructuring of operations

Japanese Government Involvement in TICAD7
for the expansion of private investment⃝Investment in high-quality infrastructure tostrengthen connectivity⃝Diversification of industries⃝Development of human resources in industry,

expansion of universal health coverage*USD at TTM rate as of March 31, 2020

Natural Resources

Business Development
Overseas

Preserving the
Global Environment• Acquisition of rights of• Securing international• Drastically reducing• Improving the businessenvironment, including
infrastructure development• Relationship managementwith resource-providing
countries

market/management resources• Improving/stabilizing network• Improving the investment

environment/market development

greenhouse gases

Taking measuresagainst Financial
Crises• Developing/Stabilizing• Promoting energy-saving

markets

and preserving
environmental measures• Taking measures against

financial crises• Enhancing economic

partnerships/regional cooperation

Financial Tools To perform our mission, we use the best financial tools that match each need
and actively demonstrate our function of creating and mediating the market.
Export
Loans

Loan

2

ImportLoans

Guarantee

Strengthening efforts to facilitatebusiness in Africa towards TICAD7JBIC will support Japanese companies in expanding to regions thatare expected to further strengthen their relationship with Japan, such

JBIC will promote project formation by formulatingas Africa, the Mekong Region, and South Asia, by enhancing its risk-business opportunities in Africa.

strategies to encourage Japanese companies to identify

taking capability and collaborations with international organizations

JBIC’s Role in TICAD

Contribute to the sound development of Japan and the international economy and society.

MissionCreating business opportunities for Japanesecompanies through support for identification andformation of specific projects

and state financial institutions around the world.

2 JBIC’s Missions and Operations

reserves/Import of resources

JBIC set Africa as a frontier market in the Key Focus Areas of the Medium-term Business Plan
(JFY 2018-2020). JBIC actively supports the activities of Japanese companies in Africa.

EquityParticipation

Overseas
Investment
Loans

Acquisition of
public bonds

UnitedLoans

Securitization

Research

JBIC’s contribution policy for TICAD7JBIC took the opportunity presented by TICAD7 to renew the JBIC Facility for African Investment and Trade Enhancement(FAITH), establishing FAITH 3. Based on FAITH 3, JBIC anticipates a total of USD 4.5 billion in support for Africa over three
years from 2019 to 2021.

FAITH3Three Pillars of JBIC’s approach to Africa

1. Supporting the
expansion of socialand environmental
investment● Under its “Post-COVID-19 Growth Facility,” JBIC contributes to infrastructure development that helps topreserve the global environment, such as clean power sources including wind and geothermal power generation,
off-grid power systems, water supplies, prevention of water pollution, waste treatment, etc.
● JBIC supports Japanese companies’ business that leads to the establishment of sustainable social
infrastructure in Africa, such as healthcare, communications, enhancement of supply chains, etc.

2. Enhancing
cooperation withmultilateral and bilateral financial
institutions● By cooperating with multilateral organizations and bilateral financial institutions, JBIC enhances its support
network in Africa.
● In addition to existing cooperative relationships with AfDB, the West Africa Development Bank, theDevelopment Bank of Southern Africa, EIB, Cassa Depositi e Prestiti S.p.A. (CDP), the Export Credit Bank of Turkey
and the Export-Import Bank of India, JBIC establishes cooperative relationships with other institutions.

3. Enhancing support
for Japanesecompanies’ export
and investment● By cooperating with the Eastern and Southern African Trade and Development Bank and the African ExportImport Bank, JBIC establishes a network covering all of Africa that supports export. This enables a prompt
response to the export needs of Japanese companies.
● JBIC supports Japanese companies’ business in natural resources development and infrastructure projects,
which require risk monies of a larger amount and longer tenor.

3

Case Supporting the Future of
Study Japan and Africa

JBIC supports the business activities of Japanese companies as well as economic
development in Africa. The following are recent operations of JBIC.

Overseas
Investment Loan

Overseas
Investment Loan
(Natural Resources)

Mozambique
Mozambique LNG Project(Rovuma Offshore Area 1 Block)(Jul. 2020)

Morocco1. P r o j e c t O ve r v i e w

Taza Onshore Wind Power Generation Project (Dec. 2019）

・Scope of the Loan: This project involves the development of
the Golfinho/Atum gas field in the northernmost part ofMozambique; the transportation of feed gas via a subsea gas
pipeline to the onshore liquefaction plant to be constructed;
and the production and sale of LNG (annual production
capacity of 13.12 million tons).
・Sponsors: Total of eight, including Mitsui & Co., JOGMEC,
Total S.A. (France), and ENH (Mozambique)・Loan Agreement Signing Date: 15th July, 2020
・Total Amount of Co-financing: USD 14,400 million
・JBIC’s Financing Amount: USD 3,000 million

1. P r o j e c t O v e r v i e w
・Scope of the Loan: This project involves the build/operate/transfer-style
construction and operation of an onshore wind power generation plant(total generation capacity of 87.21 [3.23 MW × 27 units]) on the outskirtsof the city of Taza, Morocco, and the sales of all energy produced to the
National Office of Electricity and Drinking Water for 20 years after thestart of commercial operations based on a sales contract.
・Sponsors: Mitsui & Co., EDF Renouvelables (France)
・Loan Agreement Signing Date: 20th December, 2019
・Total Amount of Co-financing: EUR 113 million
・JBIC’s Financing Amount: EUR 44 million

EPC Contractor

Parc Eolian Taza services SA
Construction

Co-finance

JBIC

National Office

Parc Éolien de Taza SA

Commercial

・Complying with the infrastructure export strategy determined by thegovernment of Japan (determined at the May 2013 infrastructure
management association strategy conference, last revised in June 2019)as well as the policy concerning the export of low-carbon infrastructure,including renewable energy.

ProvidingElectricity

Water (ONEE)

Equity Participation

NEXI

Co-financeCommercial

Sponsor
Mitsui & Co.
EDF Renouvelables (France)

・Supporting private investment in Africa.

Japanese electric
power and gas

Operator

Banks

companies

Other ECAs

Sales of LNG

EquityParticipation

Sponsors

2. K e y P o i n t s

Mitsui & Co., JOGMEC, Total S.A.

for Electricity
and Drinking

Banks
Insurance

Plant construction

JBIC

buyer

Operator

2. K ey P o i n t s・Supporting the overseas business development of Japanese companies.

Major electricity

EPC Contractor(France), and ENH (Mozambique), etc.

・Ensuring the stability of energy resources for Japan.
(Japanese electric power and gas companies have concluded
long-term purchase agreements for approximately 30% of the
LNG produced by this project.)・Contributing to supply optimization for Japanese buyers
through flexible sales agreements (relaxation of destination
clauses, joint procurement framework).
・Largest foreign direct investment in a single project in Africa
and JBIC’s largest financing amount for Africa.
・Contributing to public finance in the host country.

・Complying with Morocco’s electric power policy.

AngolaExportLoan

Export Credit
Lines

Namibe Bay Comprehensive Development Project(Jan. 2019)

1. P r o j e c t O ve r v i e w
・Scope of the Loan: 1) Namibe Port Expansion and
2) Sacomar Export Terminal Rehabilitation
・Exporter: Toyota Tsusho and Toa Corporation
・Loan Agreement Signing Date:・Namibe port expansion contributes toeconomic revitalization of the southern

1. P r o j e c t O ve r v i e w
・ Scope of the Loan: These credit lines (CLs) are extended via TDB
and Afrexim to projects in their member states in Africa to provide
funds for the import of machinery and equipment from Japanesecompanies and their overseas affiliates.

region of Angola and decreases
dependency on using the ports ofneighboring Namibia. Sacomar Export
Terminal Rehabilitation enables Angola

28th March, 2019 Contract Loan Agreement for each projectto export more iron ore and helps
Angola to access foreign currencies and・Total Amount of Co-financing:diversify its economy.

11th January, 2019 General Agreement

CLA 1) -approx. JPY 24.1 billion and USD 211 million
CLA 2) -approx. JPY 3.9 billion and USD 51 million
・JBIC’s Financing Amount:

JBIC

AngolaGovernment

CLA 1) -approx. JPY 14.4 billion and USD 126 million
CLA 2) -approx. JPY 2.3 billion and USD 30 million

Commercial Banks

Export Credit Lines to the Eastern and Southern African
Trade and Development Bank (TDB) and Afreximbank(Afrexim) (May 2019)

Co-finance・Loan Agreement Signing Date:
24th May, 2019 General Agreement (TDB)(Final application date of contract: 25th March, 2022)
31st May, 2019 General Agreement ( Afrexim)(Final application date of contract: 25th March, 2021)
・Total Amount of Co-financing: USD 350 million (TDB), USD 300
million (Afrexim)
・JBIC’s Financing Amount: USD 210 million (TDB),USD 180 million(Afrexim)

・A large loan amount is financed by Japanese financial institutions in
the context of the Angolan government's policy of reducing its reliance

NEXI
Toyota Tsusho and
Toa Corporation

Export andImportContract

included the Sacomar Export Terminal Rehabilitation, which enables
Angola to access foreign currency) and joint proposal to the Angolan

4

government by JBIC and Toyota Tsusho have led to the conclusion of
the EPC contract.

Namibe Port
Expansion

actively provides support for the undertakings of Japanesecompanies in Africa using their capability with regard to risk-taking and collecting TDB and Afrexim loan amounts.
・Not only promote exports from Japan but also the exports ofJapanese affiliates overseas.
・In the case where a project’s host country is a member stateof both financial institutions, finance conditions might bemore competitive.

Co-finance

JBIC

Budgeting

Ministry ofTransportation

on Chinese financing.
・Package deal (in addition to the Namibe port expansion, we havecountries, which have a tendency of acquiring foreign
currency by exporting natural resources. JBIC broadly and

Ministry of FinanceInsurance

2. K e y P o i n t s

・These CLs contribute toward diversifying industry in African

Sacomar Export
Terminal Rehabilitation

2. K ey P o i n t s
・ JBIC signed these CLs based on the situation whereby
Japanese companies trying to expand their business in Africa
expect the support of ministries and relevant organizations
such that other countries and international organizations
knowledgeable about Africa can share the necessary
information, knowledge, network and resources of private
Japanese companies to support projects in Africa.

Commercial
Banks
Insurance

NEXI

TDB

Afrexim

22 countries

51 countries

Sub Loan(Up to USD
350 mil)

Sub Loan(Up to USD
300 mil)

African Governments
and Companies
Export and Import
Contract*Including Japanese overseas
subsidiary companies

Japanese Exporter*5

Expanding Financial Resultsin Africa

Major
Projects

EGYPT
MOROCCO10

JBIC has been expanding financial results in Africa year after year. JBIC, as a Japanese governmental
financial institution, will provide long term and sustainable financial support for African economic
development and the business expansion of Japanese companies in Africa.

1

Major Results of JBIC Finance for Africa after TICAD 4
Signing
Date

Country

2008.7.9

7South Africa

Loan and Guarantee to the Eskom Holdings Limited (ESKOM) Power
Transmission Projects■ Infrastructure ■ Untied Loans■ Guarantees

Loan/Guarantee
JPY 7,500 mil.

2008.8.15

6Madagascar

Project Finance and Political Guarantee for the Ambatovy Nickel Project■ Energy & Natural Resources■ Overseas Investment Loans

Loan USD 400 mil.

2008.9.25

1

Egypt

Loan to Egyptian Offshore Drilling Company S.A.E. (EODC) Natural Gas
Development■ Marine & Aerospace

2009.3.26

7South Africa

2009.10.5－

1

2010.11.24

8Angola2011.6.30

5Mozambique

2012.3.30

A－

2012.6.20

10

Morocco2012.8.24

8AngolaC－

2013.3.27
2013.6.2
2013.9.27

9

Ghana

2013.10.8
2014.9.18

10Morocco2015.3.26
2015.3.27

2015.9.11

2016.3.30
2016.8.27

2017.11.27

South Africa

3

Tanzania

2

Uganda8
B
4

5

2017.12.1

1

2019.1.11

8

2019.5.24

B

2019.5.31

A

2019.12.20

6

7

10

Angola－Mozambique,
Malawi■ Infrastructure■ Manufacturing & Services■ Guarantees■ Manufacturing & Services■ Equity Participation

Equity Participation in The Currency Exchange Fund N.V.
Buyer’s Credit for the ERC Refinery Project (Project-Finance Based)■ Machinery & Equipment ■ Export Loans■ Project Finance

Buyer’s Credit to the National Authority for Tunnels (NAT)(Metro
Construction )■ Infrastructure■ Export Loans

Buyer’s Credit to the Government (Textile Plant Rehabilitation)■ Machinery & Equipment■ Environment

Loans

Loan USD 270 mil.

■ Export

Loan
JPY 7,900 mil.
Loan
JPY 11,590 mil.
Loan USD 4.8 mil.

Export Credit Line to Afreximbank■ Machinery & Equipment

Loan USD 60 mil.

Buyer’s Credit for Jorf Lasfar Power Project (Project-Finance Based)■ Infrastructure ■ Export Loans ■ Project

Buyer’s Credit to the Government (Two Contracts) (Textile Plant
Rehabilitation)■ Machinery & Equipment■ Export

Export Credit Line to the Development Bank of Southern Africa (DBSA)■ Machinery & Equipment■ Export

Credit Line to DBSA (Supporting Renewable Energy Projects inSouthern African Countries)■ Environment■ Guarantees

Overseas Investment Loan for the Deepwater FPSO Operation Project(Project-Finance Based)■ Export

FinanceLoans■ Untied Loans■ Energy & Natural Resources

Loan USD 216 mil.

■ Machinery & Equipment ■ Export Loans

Loan USD 60 mil.

Project Finance to the Coal-fired Power Generation Project■ Infrastructure ■ Overseas Investment
Loans■ Project Finance

Loan USD 719 mil.
Loan EUR 147 mil.

Buyer’s Credit for the Seawater Desalination Plant Project in Agadir■ Infrastructure ■ Overseas Investment
Loans ■ Project Finance

Loan EUR 11.5 mil.

■ Environment■ Untied Loans

Loan/Guarantee
USD 237.5 mil.

Buyer’s Credit to the Government (Gas -fired Power Generation Projectin Dar es Salaam)■ Infrastructure

Buyer’s Credit to the Government (Road construction/maintenanceproject)■ Machinery & Equipment■ Export Loans

Loan
USD 7,564 mil.

■ Infrastructure

Loan
USD 65 mil.

Export Credit Line for Banco de Desenvolvimento de Angola(Supporting the Export of High-Quality Communications
Infrastructure Equipment)
Export Credit Line to the Eastern and Southern African Trade andDevelopment Bank (TDB)
Project Finance to Nacala Railway and Port Infrastructure■ Export Loans■ Export Loans

Mar 27,2013

JBIC Outstanding Balance for Africa(As of March, 2020)
Country

Outstanding
Balance (USD million)

1

Morocco896

3

2Madagascar

772

2

3

Egypt

707

3

4

Mozambique

649

2

7

Malawi311

2■ Infrastructure ■ Environment■ Overseas Investment Loans ■ P r o j e c t
Finance

Loan USD 191 mil.

8

Tanzania

168

Loan
JPY 34,600 mil.

9

Uganda68

10South Africa

11
Loan USD 180 mil.
Loan EUR 44 mil.

MoroccoProject Finance to the Taza Onshore Wind Power Generation Project■ Manufacturing & Services ■ Overseas

Loan ZAR 400 mil.

■ Energy & Natural Resources■ Overseas Investment Loans ■ Project

Loan USD 3 bil.

Investment Loans

FinanceBank of Southern

Credit Line to DBSA
(Supporting

Projects in Southern
African Countries)

Number of
Projects

1■ Infrastructure■ Environment■ Overseas Investment Loans■ Project Financeto the Development

Renewable Energy

378■ Export Loans

Export Credit Line

Loan USD
60 mil.

Africa (DBSA)

Jun 2,
2013

Ghana■ Machinery & Equipment ■ Export Loans

Project Finance to the Mozambique LNG Project (Rovuma Offshore Area
1 Block)

C

Loan USD
210 mil.

6

Export Credit Line to Afreximbank

Mozambique

SOUTHAFRICA

6

－

5

Loan USD
40 mil.

498

Loan USD 210 mil.

2020.7.15

May 24,
2019

Export Credit Lineto the Easternand Southern
African Trade andDevelopment
Bank

Angola■ Machinery & Equipment■ Export Loans

South Africa

Aug 27,2016

MOZAMBIQUE

7

B

5

Export Credit Line to the Eastern and Southern African Trade andDevelopment Bank (TDB)

7

MADAGASCARLoan
USD 1,030 mil.

Angola2020.5.7

6■ Energy & Natural Resources■ Infrastructure ■ Overseas Investment
Loans ■ Project Finance■ Machinery & Equipment

5Loan
USD 180 mil.

Loan USD 40 mil.

Export Credit Line for the Government (Supporting the Export ofEquipment and Services Related to the Port Sector)

4

8

Loan
USD 60 mil.

■ Machinery & Equipment■ Export Loans

Egypt

South African Rand Denominated Loan for the Automotive Tire
Manufacturing and Sales Business of a Japanese company

Export Credit Line toAfreximbank

May 31,
2019

Loan USD 175 mil.

Project Finance to the Onshore Wind Power Generation Project－Mar 30,2012

Loan/Guarantee
USD 49 mil.

Credit Line to Banque Marocaine du Commerce Extérieur (BMCE Bank)

MALAWIA

Loan USD 60 mil.

Loan
USD 508.2 mil.

3

ANGOLA

Loan JPY 18,500
mil. Equivalent/
JPY 18,100 mil.
Equivalent■ Marine & Aerospace ■ Overseas
Investment Loans■ Project Finance

Credit Line to Standard Bank (Supporting Renewable Energy Projects in
Sub-Saharan African Countries)

2
TANZANIA

Loan USD 540 mil.

■ Energy & Natural Resources■ Overseas Investment Loans

Loans

GHANA

Equity Participation
USD 50 mil.

Overseas Investment Loan for Woodchip Production and Manufacturing
Project

Loans

9Loan/Guarantee
JPY 35,000 mil.

Loan USD 150 mil.

■ Untied Loans■ Others

Egypt2010.9.2■ Overseas Investment Loans■ Untied Loans

Loan to Standard Bank (Trade Finance Support)

2010.2.25
2010.8.9

Loan and Guarantee to Transnet (Port Expansion)UGANDA

JBIC
AmountProject Name

Loan/
Guarantee
USD 49 mi.

List of Recently Signed Memorandums of Understanding
May 14, 2009

MOU with the African Development
Bank to Strengthen Cooperation

May 28, 2010

MOU with Afreximbank for
Cooperation

May 30, 2010

MOU on the Comprehensive
Strategic Partnership with Egypt

Mar 8, 2011

MOU on the Comprehensive1

Sep 30, 2014

MOU with the Government of the

47

1
5

Aug 26, 2016

M O U wi t h At t i j a r i wa fa Bank

Algeria82

Aug 27, 2016

MOU with the Islamic Development
Bank Group

12

Seychelles31

Aug 27, 2019

13

Kenya

0.09

1

MOU on Business Cooperation with theDevelopment Bank of Southern Africa

Aug 30, 2019

Africa Total

4,517

30

MOU on Business Cooperation with theWest African Development BankJBIC Total

124,386

1,429

Oct 21, 2019

MOU with EBRD to Strengthen
Cooperation

Jun 5, 2020

MOU with IFC to Strengthen Cooperation

Strategic Partnership with Morocco
Republic of Mozambique7