Japan Bank for International Cooperation (JBIC) is setting up a “second account” or a “special operation” for projects that are deemed riskier, Munetaka Horiguchi, JBIC’s executive officer for Asia and Pacific, said during an energy conference last week. There is now more expectation for the bank to take risk in power projects, such as provincial government risk or state-owned utility risk, when there is no central government guarantee, he said. JBIC has recently signed a loan providing ¥19bn (US$183m) and US$27m to PLN of Indonesia for the construction of its 800MW Jawa-2 gas-fired combined cycle power plant in Tanjung Priok. It was joined by ANZ, BTMU and Mizuho Bank, which funded a combined ¥12.7bn and US$18m debt package.
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