Republic of Chile / Huatacondo Photovoltaic Project
- First US Dollar-denominated insurance Contract -

November 24, 2017

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Kazuhiko Bando) has provided loan insurance for the first time as a US Dollar-denominated insurance, which was created on October 2, 2017.

The loan insurance in which both premium and claims are paid in the US dollar will support loans for the Huatacondo Photovoltaic Project1 of the Republic of Chile. NEXI’s support for this project was already announced in June; now NEXI has confirmed that the project meets all requirements necessary for underwriting.

The US Dollar-denominated for loans was created as one of the measures taken to implement the “Partnership for Quality Infrastructure” announced by Prime Minister Shinzo Abe in May 2015. As the insurance claims under this insurance would be paid in the same currency as the insured loans, this insurance facility is expected to further encourage banks to participate in financing projects.

As a financial institution implementing Japan’s policy, NEXI will continue to support Japanese companies’ overseas business.

Contact:  Power Group, Structured and Trade Finance Insurance Department
      Tel: 03-3512-7340

1 For Huatacondo Photovoltaic Project, please see Topics (News Release), June 23, 2017.