Inter-American Development Bank (IDB) / NEXI Underwrites Loan Insurance for an IDB Financing

Nippon Export and Investment Insurance (NEXI: Chairman and CEO: Atsuo Kuroda) has decided to underwrite loan insurance for a financing provided by the Inter-American Development Bank (IDB ; President: Ilan Goldfajn). In the presence of Mr. Toshiyuki Ochi, Parliamentary Vice-Minister of Economy, Trade and Industry, NEXI and the IDB signed a loan insurance agreement on August 24 at the Imperial Hotel in Tokyo.

Following the amendment to the Trade and Investment Insurance Act in July 2022, the eligibility requirements for insured parties under Buyer’s Credit Insurance and Overseas Untied Loan Insurance were relaxed, enabling NEXI to directly provide insurance coverage to international organizations, foreign governments and other entities (collectively, “International Organizations and Other Entities”).

This transaction provides Overseas Untied Loan Insurance directly to the IDB, an International Organization, as the insured for a financing extended by the IDB. This is the first case in which NEXI has provided insurance coverage to an International Organization or Other Entity since the amendment of the Act.

From left to right: Ilan Goldfajn, President, IDB、Ochi, Parliamentary Vice-Minister of Economy, Trade and Industry、Atsuo Kuroda, Chairman and CEO of NEXI

The IDB is the largest multilateral development institution in Latin America and the Caribbean, supporting a wide range of sectors including infrastructure, energy, digital transformation, start-ups and environmental initiatives. Through cooperation with the IDB, NEXI expects to expand access for Japanese companies to business opportunities in Latin America and the Caribbean. Furthermore, by leveraging the IDB's extensive local network and expertise, NEXI is expected to deepen its understanding of local operating environments and institutional frameworks in the region. The cooperation between NEXI and the IDB is also expected to facilitate Japanese companies’ engagement in Latin American and Caribbean markets and contribute to expanding their business and investment opportunities. This cooperation with a multilateral development institution is aligned with the Alliance element of NEXI's LEAD Initiative, launched in 2020.

NEXI will continue to actively promote the overseas business expansion of Japanese companies through collaboration with International Organizations and Other Entities.

（Reference）

Insured Value	Approximately USD 216 million
Tenor	18 years

Contact:
Solution Service Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7744