NEXI Provides Loan Insurance for Kuwait Petroleum Corporation (KPC) / LEAD Initiative Project
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has decided to provide Overseas Untied Loan Insurance for a loan of total USD 1.0 billion provided by commercial banks to Kuwait Petroleum Corporation (KPC), a National Petroleum Corporation owned by the State of Kuwait (Kuwait). The insurance is offered in line with NEXI’s LEAD Initiative launched in December 2020.
For Japan, Kuwait is one of the largest exporters of crude oil, as well as one of the most important countries in ensuring energy security. The loan facility to KPC will be used for supporting Kuwait’s oil businesses and efforts for advancement of decarbonization. This is expected to contribute to supplying the global oil market, stabilizing oil prices, and advancing Kuwait’s decarbonization.
Through working with private financial institutions and sectors, advancing NEXI’s LEAD initiative, and establishing partnerships with foreign governments and companies. NEXI will continue to actively support the effort of the Japanese government to address its diplomatic/trade issues, to promote infrastructure exports, and to provide financial support for cooperation projects that will contribute to strengthening bilateral economic ties for Japan to secure resources in the future.
| Insured Amount | USD 1.0 billion |
| Tenor | 13 years |
| Type of Insurance | Overseas Untied Loan Insurance |
| Covered Risks | Political risk: 100%, Credit risk: 90% |
＜Overview of KPC＞
Kuwait Petroleum Corporation（KPC）is a state-owned corporation founded in 1980. KPC is responsible for the exploration, drilling, production, storage, refining, processing, transportation, distribution, and marketing of crude oil, petroleum products, liquified petroleum gas and petrochemical. KPC owns eight subsidiaries that operates domestically and internationally. For more information on KPC, please visit: https://www.kpc.com.kw/
Contact:
Natural Resources Group, Structured and Trade Finance Insurance Department
Telephone: +81-3-3512-7672