The Japan Bank for International Cooperation (JBIC) has raised the ceiling on its loan to a US vehicle it set up, from about $630mn to about $1.976bn, to fund the second investment in a gas-fired power project in Ohio.
What changed
JBIC signed an amendment on September 25 to its existing loan agreement with Japan Invest 3 LLC (JI3), a US-incorporated company that JBIC invested in and established. The amendment lifts the loan limit to about $1.976bn, from about $630mn before the change. The release was published on October 9; the signing date was September 25.
Exposure versus the full package
The two figures in the release measure different things. JBIC's own loan limit is about $1.976bn. The loan is made as co-financing with private financial institutions, and after the amendment total co-financing comes to about $5.917bn. The private banks' share of the lending is insured by Nippon Export and Investment Insurance (NEXI).
A loan limit is a ceiling, and the release does not say how much has been drawn. It does not give the number of banks, their names, the interest rate or the tenor.
The framework behind it
JBIC says the loan funds JI3's investment in a gas-fired power project under the Strategic Investment Initiative. That initiative rests on a memorandum of understanding on strategic investment announced by the Japanese and US governments in September 2025. The loan covers the second investment in this project, and JBIC refers readers to its May 1, 2026 press release on the project.
The release does not give the plant's capacity, construction status or any counterparties beyond JI3, the private lenders and NEXI.