📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on July 17 a general agreement to provide a credit line with the government of the Republic of Benin amounting to up to EUR75 million, of which JBIC's portion is EUR45 million.
This credit line is intended to provide, through the government of Benin, the funds necessary for implementing environmental preservation projects in Benin as part of GREEN operations*1. This is the second credit line to Benin, following the first one set up in March 2021*2.
In its Nationally Determined Contributions (NDC), an action plan under the Paris Agreement, the government of Benin expressed its commitment to the measures against climate change by, for example, aiming to reduce greenhouse gas emissions by 20.15% compared to the base scenario between 2021 to 2030.
The loan is expected to contribute toward reducing greenhouse gas emissions through the promotion of global environmental preservation projects in Benin and help create business opportunities for Japanese companies and realize the sustainable development of Benin itself. Additionally, in the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth, supporting efforts toward global green transformation (GX) and energy transitions based on countries' diverse pathways to carbon neutrality. The signing of the MOU is in line with the Medium-Term Business Plan of JBIC.
As Japan's policy-based financial institution, JBIC will continue to provide financial support for sustainable development efforts, including those for global environmental preservation, by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
