JICA's Commitment to Sustainable Development
jiCA
Terms and Conditions of ODA Loans (effective from April 1, 2023) (2/2)
Category
GNI Per Capita (2021)
Terms
Grace Period
(years)
10
JICA at a
Glance
Business
Activities
Upper Middle Income
Countries
and
Uppermost Middle
Income Countries
US$ 4,256 -
Funding
Activities
JICA's Bonds
Fixed/
Floating
Standard/Option
Interest Rate (%)
Repayment
Period (years)
Conditions for
Procurement
Standard
0.95
30
Preferential Terms
for High Specification
Option 1
0.85
25
7
Fixed
Option2
0.75
20
6
Option3
0.65
15
5
Longer option
TORF+110bp
40
Standard
TORF+90bp
30
11
10
10
Floating
Option1
TORF+80bp
25
7
Option2
TORF+70bp
20
Preferential Terms
Option3
Standard
TORF+60bp
15
2.10
30
650
10
Option1
1.95
25
7
Fixed
Untied
Option2
1.75
20
Option3
1.50
15
65
Longer option
TORF+130bp
40
10
Standard
TORF+110bp
30
10
Floating
Option1
TORF+100bp
25
7
Option2
TORF+90bp
20
6
General Terms
Option3
TORF+80bp
15
5
Standard
2.30
30
10
Option1
2.15
25
7
Fixed
Option2
1.95
20
6
Fixed
Option3
Standard
1.70
15
5
0.20
40
10
Tied
For consulting services, the interest rate will be minimal (0.10%) and the repayment, grace periods and conditions for procurement will be the
same as those for main components.
- Social/
Sustainability
Bond
Framework
Overview
Recent
Highlights
Appendix
STEP(5)
Consulting Services (6)
Options for Program Type Japanese ODA Loans (7) In case of co-financing, it is possible to apply the same repayment terms as co-financer's lending while maintaining the concessionality of Yen
loans.
1 For Low-Income LDCs, three-year transition period will be granted to recipient countries that will move from the category of Low-Income LDCs, and, during the period, the terms and conditions for Low-Income LDCs will be applied to the
projects of the countries..
2 Preferential Terms for High Specification will be applicable to projects promoting quality infrastructure. The applicability of the terms will be decided on a case-by-case basis.
3 Preferential Terms are applied to the following sectors and fields to all countries (except Low-Income LDCs): (i) Issues on Global Environmental and Climate Change, (ii) Health and Medical Care and Services, (iii) Disaster Prevention, and
Reduction, (iv) Human Resource Development.
4 The base rate of floating rate is the value of the 6-month TORF, and the fixed spread remains constant over the life of the loan. If the base rate plus fixed spread is lower than 0.1%, the interest shall be 0.1%.
5 Special Terms for Economic Partnership (STEP) is extended to the projects for which Japanese technologies and know-how are substantially utilized, based on the recipient countries' request to utilize and transfer excellent technologies of
Japan. Countries (except LDCs), which are eligible for tied aid under Arrangement on Officially Supported Export Credits issued by OECD, are eligible for STEP terms.
6 Irrespective of the income category, the term and condition of 0.10% interest rate and 40-year repayment period including 10-year grace period are applied to projects assisting recoveries from disasters, including Stand-by Emergency
Credit for Urgent Recovery (SECURE). For Stand-by Emergency Credit for Urgent Recovery (SECURE), the term and condition of 20-year repayment period including 6-year grace period, or 15-year repayment period including 5-year grace
period are also available, in order to apply Currency Conversion Option.
7 For Contingent Credit Enhancement Facility for PPP Infrastructure Development (CCEF-PPP), only floating rate will be applied irrespective of income category. The terms on conditions are individually set within the following range of
interest rate as well as repayment period (In the case of short term financial support, however, the repayment period is 10 years); Interest rate: TORF +35 ~55bp, Repayment period: maximum 40-year(maximum 30-year drawdown period
plus 10 year)
Notes
Under the EPSA (Enhanced Private Sector Assistance for Africa) initiative, the loan for projects co-financed with the AfDB are extended using "Preferential Terms," determined for each income category; in the case for Low-Income LDCs, the
term and condition of 0.10% interest rate and 40-year repayment period including 10-year grace period are applied.
For countries complying with ongoing IMF-supported programs or receiving grants from IDA, it is possible to modify the terms and conditions of the ODA Loans so as to meet the IMF's concessionality criteria.
For General terms and Preferential terms, fixed rate for all countries (except Low-Income LDCs) will be revised on a regular basis so that its concessionality will be equal to that of floating rate.
For Upper-Middle-Income Countries and Uppermost-Middle-Income Countries, floating rate will be applied in principle, although fixed rate could be applied.
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