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Official Development Assistance Loans

Terms and Conditions of Japanese ODA Loans

Terms and Conditions of Japanese ODA Loans (Effective from April 1, 2007)

CategoryGNI Per Capita
(2005)
 Standard / OptionInterest Rate
(%)
Repayment Period
(Year)
Grace Period
(Year)
Conditions
for
Procurement
Least Developed CountriesLow-Income CountriesMinimal Interest Rate
"MIRAI"
0.014010Untied
 General
Terms
Standard0.803010Untied
Option 10.75257
Option 20.70206
Option 20.65155
Preferential
Terms
Standard0.754010Untied
Option 10.653010
Option 20.60206
Option 20.50155
Low-Income
Countries
-US$ 875General
Terms
Standard1.303010Untied
Option 11.00257
Option 20.85206
Option 20.75155
Preferential
Terms
Standard0.754010Untied
Option 10.653010
Option 20.60206
Option 20.50155
STEPStandard0.404010Tied
Option0.303010
Lower-
Middle-Income
Countries
US$ 876
-US$1,675
General
Terms
Standard1.503010Untied
Option 10.90206
Option 20.80155
Preferential
Terms
Standard0.754010Untied
Option 10.653010
Option 20.60206
Option 20.50155
STEPStandard0.404010Tied
Option0.303010
Middle-Income
Countries
US$1,676
-US$3,465
General
Terms
Standard1.50257Untied
Option 11.05206
Option 20.90155
Preferential
Terms
Standard0.754010Untied
Option 10.653010
Option 20.60206
Option 20.50155
STEPStandard0.404010Tied
Option0.303010
Upper-
Middle-Income
Countries
US$3,466
-US$6,055
General
Terms
Standard1.70257Untied
Option 11.60206
Option 21.50155
Preferential
Terms
Standard1.20257Untied
Option 11.00206
Option 20.60155
Consulting ServicesFor consulting services, the interest rate will be minimal (0.01%) and the repayment, grace periods and conditions for procurement will be the same as those for main components.
Options for Program Type Japanese ODA LoanIn case of co-financing, it is possible to apply the same repayment terms as co-financer's lending while maintaining the concessionality of Japanese ODA loans. For countries complying with ongoing IMF-supported programs or receiving grants from IDA, it is possible to modify the terms and conditions of the Japanese ODA Loan so as to meet the IMF's concessionality criteria.
  • STEP (Special Terms for Economic Partnership) is set and reconsidered on January 15 every year to make a tied aid eligible.
  • The concessionality level of optional terms does not exceed that of standard terms.
  • Under the EPSA 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 terms are MIRAI.
  • A two-step loan extended to the AfDB to cover its sub-loans to private enterprises under EPSA is extended using the term and condition of 0.55% interest rate and 40-year repayment period including 10-year grace period.
  • Irrespective of the country category, the terms applied for projects assisting recoveries from disasters are MIRAI.
  • Sectors and Fields of Preferential Terms and Special Terms for Economic Partnership (STEP)
  • Major Economics Classified by Income Category

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