2023.07.18
The Japan International Cooperation Agency (JICA; President: Tanaka Akihiko) has announced its plan to launch “Disaster Resilience Bonds.” As theme bonds, they will highlight the agency’s initiatives related to the Disaster Risk Reduction (DRR) and Build Back Better (BBB) strategies.
The bonds are Sustainability Bonds denominated in Japanese yen, without government guarantee, and are scheduled to be launched in September 2023. The proceeds from the bonds will be allocated to JICA's finance and investment cooperation projects, which contribute to disaster risk reduction and reconstruction from natural disasters in developing regions.
JICA will manage and track the bonds’ net proceeds to ensure that they are allocated to eligible projects related to this theme within the agency’s Social/Sustainability Bond Framework. JICA will not knowingly allocate the proceeds to activities related to coal-fired power generation.
The expected issuance tenors and joint lead managers are as follows:
・Five-year tranche: Nomura, Daiwa, and Tokai Tokyo
・10-year tranche: Nomura, Daiwa, SMBC Nikko, and Tokai Tokyo
・20-year tranche: Daiwa, Mizuho, Shinkin, and SMBC Nikko
The details of this transaction are to be determined, subject to market conditions.
Contact
Budget for Finance and Investment Account, and Capital Markets Division, Treasury, Finance and Accounting Department, JICA
Tel: +81-3-5226-9279
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