Japan International Cooperation Agency
Share
  • 日本語
  • English
  • Français
  • Espanol
  • Home
  • About JICA
  • News & Features
  • Countries & Regions
  • Our Work
  • Publications
  • Investor Relations

Official Development Assistance Loans

Terms and Conditions of Japanese ODA Loans

Terms and Conditions of Japanese ODA Loans (Effective from October 1, 2015)

Category Terms Fixed/
Variable
Standard/
Option
Interest Rate (%) Repayment Period (years) Grace Period (years) Conditions for Procurement
Low-Income Least Developed Countries *   0.01 40 10 Untied
Least Developed Countries General
Terms
Fixed Standard 0.70 30 10
Option1 0.65 25 7
Option2 0.60 20 6
Option3 0.55 15 5
Preferential
Terms **
Standard 0.01 40 10
Option1 0.01 30 10
Option2 0.01 20 6
Low-Income
Countries
General
Terms
Fixed Standard 1.20 30 10 Untied
Option1 0.90 25 7
Option2 0.75 20 6
Option3 0.65 15 5
Preferential
Terms **
Standard 0.25 40 10
Option1 0.20 30 10
Option2 0.15 20 6
Option3 0.10 15 5
STEP *** Standard 0.10 40 10 Tied
Lower-
Middle-Income
Countries
General
Terms
Fixed Standard 1.40 30 10 Untied
Option1 0.80 20 6
Option2 0.70 15 5
Variable **** Standard JPY LIBOR+10bp 30 10
Option1 JPY LIBOR 20 6
Option2 JPY LIBOR-5bp 15 5
Preferential
Terms **
Fixed Standard 0.30 40 10
Option1 0.25 30 10
Option2 0.20 20 6
Option3 0.15 15 5
Variable **** Standard JPY LIBOR-100bp 40 10
Option1 JPY LIBOR-110bp 30 10
Option2 JPY LIBOR-120bp 20 6
Option3 JPY LIBOR-125bp 15 5
STEP *** Fixed Standard 0.10 40 10 Tied
Middle-Income
Countries
General
Terms
Fixed Standard 1.40 25 7 Untied
Option1 0.95 20 6
Option2 0.80 15 5
Variable ****  Standard JPY LIBOR+15bp 30 10
Option1 JPY LIBOR+10bp 25 7
Option2 JPY LIBOR+5bp 20 6
Option3 JPY LIBOR 15 5
Preferential
Terms **
Fixed Standard 0.30 40 10
Option1 0.25 30 10
Option2 0.20 20 6
Option3 0.15 15 5
Variable **** Standard JPY LIBOR-95bp 40 10
Option1 JPY LIBOR-105bp 30 10
Option2 JPY LIBOR-110bp 25 7
Option3 JPY LIBOR-115bp 20 6
Option4 JPY LIBOR-120bp 15 5
STEP *** Fixed Standard 0.10 40 10 Tied
Upper-
Middle-Income
Countries
General
Terms
Variable ****  Standard JPY LIBOR+20bp 30 10 Untied
Option1 JPY LIBOR+15bp 25 7
Option2 JPY LIBOR+10bp 20 6
Option3 JPY LIBOR+5bp 15 5
Fixed Standard 1.70 25 7
Option1 1.60 20 6
Option2 1.50 15 5
Preferential
Terms **
Variable **** Standard JPY LIBOR-90bp 40 10
Option1 JPY LIBOR-100bp 30 10
Option2 JPY LIBOR-105bp 25 7
Option3 JPY LIBOR-110bp 20 6
Option4 JPY LIBOR-115bp 15 5
Fixed Standard 0.60 40 10
Option1 0.50 30 10
Option2 0.40 20 6
Option3 0.30 15 5
Uppermost-
Middle-Income
Countries (Countries whose GNI per capita level exceeds that of Upper-Middle-Income Countries)
General
Terms
Variable **** Standard JPY LIBOR+20bp 25 7 Untied
Option1 JPY LIBOR+15bp 20 6
Option2 JPY LIBOR+10bp 15 5
Preferential
Terms **
Standard JPY LIBOR-95bp 30 10
Option1 JPY LIBOR-105bp 20 6
Option2 JPY LIBOR-110bp 15 5
Consulting Services For 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 Loans
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.

* For Low-Income LDCs, the term and condition of 0.01% interest rate and 40-year repayment period including 10-year grace period are applied, irrespective of sectors and fields.

** Preferential Terms are applied for the following sectors and fields:
(i) Problems and Issues on Global Environmental and Climate Change
(ii) Health and Medical Care and Services
(iii) Disaster Prevention and Reduction
(iv) Human Resource Development

**** Although the base rate of Variable Loan is the value of the 6-month Japanese Yen LIBOR, the spread shall be fixed.The actual value of interest rate will be capped so that the grant element over the life of the loan is at least 25%, and if the actual value of interest rate is lower than 0.1%, the interest shall be 0.1%.

***** Irrespective of the income category, the term and condition of 0.01% 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.

Notes

  • 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 term and condition of 0.01% interest rate and 40-year repayment period including 10-year grace period are applied.
  • 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.
  • 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 Uppermost-Middle-Income countries, LIBOR-based term will be applied without exception.For Upper-Middle-Income Countries, LIBOR-based term will be applied in principle, although Fixed Term could be applied.For Lower-Middle-Income Countries or Middle-Income Countries, Fixed Term will be applied in principle, although LIBOR-based term could be applied. For program type Japanese ODA Loans in Upper-Middle-Income Countries, LIBOR-based term will be applied. As for program type Japanese ODA Loans for specific sector, Fixed Term could be applied.
  • Major Economics Classified by Income Category
  • Product note of Japanese ODA Loans (PDF/1.24MB)

PAGE TOP

Copyright © Japan International Cooperation Agency