MIGA

JBIC loan to Phu My 3 BOT Power (Vietnam)

JBIC Supports Vietnam Power Sector With Project Finance Loan for Power Project with Private Participation (June 12, 2003) - 1. Japan Bank for International Cooperation (JBIC; Governor: Kyosuke Shinozawa) signed today a loan agreement amounting to US$99 million with the Phu My 3 BOT Power Company, a project company incorporated in the Socialist Republic of Vietnam, for the Phu My 3 Power Project. Kyushu Electric Utilities, Nissho-Iwai, BP plc of the UK, and SembCorp Utilities Ltd. in Singapore have joint stakes in the Company. The loan was cofinanced with Mizuho Corporate Bank and Fortis Bank of Belgium as structuring lead arrangers, as well as the Asian Development Bank (ADB), Bank of Tokyo-Mitsubishi, Credit Lyonnais and Credit Agricole Indosuez as lead arrangers. The overall loan amount totaled US$309 million. ADB, Nippon Export and Import Insurance (NEXI) and the Multilateral Investment Guarantee Agency (MIGA) provided guarantee insurance to cover political risk for the portion financed by commercial banks.

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