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Search resuls for: "JBIC"


3 mentions found


☆ India and Japan will be Asia's next power couple
  + stars: | 2023-10-19 | by ( Pranav Kiran | ) www.reuters.com   time to read: +4 min
Indian Prime Minister Narendra Modi welcomes Japan Prime Minister Fumio Kishida upon his arrival at Bharat Mandapam convention center for the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Evan Vucci/Pool via REUTERS Acquire Licensing RightsBENGALURU, Oct 19 (Reuters Breakingviews) - India and Japan are edging closer. Prime Minister Narendra Modi and Prime Minister Fumio Kishida's governments form part of the so-called Quad security grouping with the United States and Australia to counter Chinese expansionism in Asia. Now the two countries are setting up an investment fund together. That’s delivering on a pledge by Kishida to invest 5 trillion yen, or some $42 billion, into India over the next five years.
Persons: Narendra Modi, Fumio Kishida, Evan Vucci, Fumio, Kishida, Wood Mackenzie, Sajjan Jindal, India’s, Lakshmi Mittal, JBIC, Una Galani, Thomas Shum Organizations: Indian, Japan, Bharat, REUTERS Acquire, Rights, Reuters, National Investment, Infrastructure Fund, Japan Bank, International Cooperation, Japan External Trade Organization, Nippon Telegraph, Telephone, Reuters Graphics, Teck Resources, Nippon Steel, ArcelorMittal, Japan Fund, Thomson Locations: New Delhi, India, Japan, United States, Australia, Asia, Reuters Graphics India, China, Russia, South, Teck, Indian
☆ U.S., Japan and partners mobilise $20 bln to move Indonesia away from coal power
  + stars: | 2022-11-15 | by ( David Lawder Valerie Volcovici | David Lawder | Valerie Volcovici | ) www.reuters.com   time to read: +4 min
"We’ve built a platform for cooperation that can truly transform Indonesia’s power sector from coal to renewables and support significant economic growth," U.S. Special Envoy on Climate Change John Kerry said. EARLIER, LOWER PEAKThe Treasury official said that the peak power emissions for Indonesia in 2030 under the plan would be at a level 25% lower than their currently estimated peak in 2037. Indonesia's annual emissions reduction over those years would be larger than Britain's annual power sector emissions, the official said. U.S., JAPAN LEADThe United States and Japan are co-leading the effort with Indonesia on behalf of the other G7 democracies Britain, Canada, France, Germany Italy, as well as partners Norway, Denmark and the European Union. On Monday, Japan announced it would help Indonesia transition away from coal power through public and private institutions, including the state-affiliated Japan Bank for International Cooperation (JBIC).
☆ Japan to offer low-interest loans for LNG procurement -Nikkei
  + stars: | 2022-09-29 | by ( ) www.reuters.com   time to read: +2 min
The state-owned Japan Bank for International Cooperation (JBIC) will provide low-interest loans to electric power utilities and city gas companies to buy the super-chilled fuel from the spot market, the paper said, without citing sources. Spot LNG prices remain at high levels amid a risk of supply disruption from Russia given its war with Ukraine. Japanese utilities buy the bulk of their LNG through long-term contracts, but about 20% comes from the spot market. Asian spot LNG prices have skyrocketed this year, hitting a record high in August, though they since have eased because of high inventory levels and governments' efforts to curb demand in Europe. It would cost Japan more than 1 trillion yen ($6.9 billion) to buy 6 million tonnes of LNG a year from the spot market if shipments from Russia were stopped completely, the Nikkei said.
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