Ministry of Economy, Trade and Industry
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Signing of a Memorandum of Cooperation with Iran concerning Establishment of a Financing Facility and Iran’s provision of sovereign guarantee

On February 5, 2016, Mr. Motoo Hayashi, Minister of Economy, Trade and Industry, signed a memorandum of cooperation concerning establishment of a financing facility and provision of sovereign guarantees for this facility by the government of the Islamic Republic of Iran (hereinafter “Iran”) with Mr. Ali Taiebnia, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, Mr. Kazuhiko Bando, Chairman and CEO of Nippon Export and Investment Insurance (NEXI), and Mr. Koichi Yajima, Executive Managing Director and COO of Japan Bank for International Cooperation (JBIC).

1. Purpose

This memorandum of cooperation aims to provide financial cooperation, which will be provided to the projects with Japanese involvement in Iran.

2. Key points in the memorandum of cooperation

  1. JBIC and NEXI will establish a financing facility, up to JPY equivalent to USD 10 billion, which will be provided to projects with Japanese involvement in Iran.
  2. Ministry of Economic Affairs and Finance of Iran will provide sovereign guarantee for the financing facility.
  3. The Trade and Investment Working Group under the Japan-Iran Cooperation Council (bilateral governmental dialogue framework) will recommend specific projects for this facility as necessary.
  4. The terms and conditions of each financing will be subject to satisfactory result of due diligence for each project and credit assessment by JBIC and NEXI.
  5. Japan and Iran will endeavor to facilitate and implement projects which contribute to the enhancement of the economic relationship between the two countries.

Through this facility, both countries will contribute to the development of Iran and the promotion of business activities conducted by Japanese companies in Iran.

Release date

February 5, 2016

Division in charge

Middle East and Africa Division, Trade Policy Bureau

Related Information

Regional Affairs/Iran

Ministry of Economy, Trade and Industry
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