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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, 2017)

Category GNI Per Capita
(2015)		 Terms Fixed/Floating Standard/Option Interest Rate (%) Repayment Period (years) Grace Period (years) Conditions for Procurement
Low-Income Least Developed Countries1   0.01 40 10 Untied
Least Developed Countries

and

Low Income Countries
（- US$ 1,025）		 STEP2 Fixed Standard 0.10 40 12 Tied
Preferential Terms for High Specification3 Fixed Standard 0.25 30 10 Untied
Option1 0.20 25 7
Option2 0.15 20 6
Option3 0.10 15 5
Preferential Terms4 Floating5 Longer option ¥LIBOR+35bp 40 12
Standard ¥LIBOR+25bp 30 10
Option1 ¥LIBOR+20bp 25 7
Option2 ¥LIBOR+15bp 20 6
Option3 ¥LIBOR+10bp 15 5
Fixed Standard 0.60 30 10
Option1 0.45 25 7
Option2 0.30 20 6
Option3 0.15 15 5
General Terms Floating  Longer option ¥LIBOR+45bp 40 12
Standard ¥LIBOR+35bp 30 10
Option1 ¥LIBOR+30bp 25 7
Option2 ¥LIBOR+25bp 20 6
Option3 ¥LIBOR+20bp 15 5
Fixed Standard 0.70 30 10
Option1 0.55 25 7
Option2 0.40 20 6
Option3 0.25 15 5
Lower Middle Income Countries US$ 1,026 -
US$ 4,035		 STEP Fixed Standard 0.10 40 12 Tied
Preferential Terms for High Specification Fixed Standard 0.50 30 10 Untied
Option1 0.45 25 7
Option2 0.40 20 6
Option3 0.35 15 5
Preferential Terms Floating  Longer option ¥LIBOR+85bp 40 12
Standard ¥LIBOR+65bp 30 10
Option1 ¥LIBOR+55bp 25 7
Option2 ¥LIBOR+45bp 20 6
Option3 ¥LIBOR+35bp 15 5
Fixed Standard 1.00 30 10
Option1 0.80 25 7
Option2 0.60 20 6
Option3 0.40 15 5
General Terms Floating  Longer option ¥LIBOR+105bp 40 12
Standard ¥LIBOR+85bp 30 10
Option1 ¥LIBOR+75bp 25 7
Option2 ¥LIBOR+65bp 20 6
Option3 ¥LIBOR+55bp 15 5
Fixed Standard 1.20 30 10
Option1 1.00 25 7
Option2 0.80 20 6
Option3 0.60 15 5
Upper Middle Income Countries US$ 4,036 -
US$ 12,475		 Preferential Terms for High Specification Fixed Standard 0.70 30 10 Untied
Option1 0.65 25 7
Option2 0.60 20 6
Option3 0.55 15 5
Preferential Terms Floating  Longer option ¥LIBOR+105bp 40 12
Standard ¥LIBOR+85bp 30 10
Option1 ¥LIBOR+75bp 25 7
Option2 ¥LIBOR+65bp 20 6
Option3 ¥LIBOR+55bp 15 5
Fixed Standard 1.20 30 10
Option1 1.00 25 7
Option2 0.80 20 6
Option3 0.60 15 5
General Terms Floating  Longer option ¥LIBOR+125bp 40 12
Standard ¥LIBOR+105bp 30 10
Option1 ¥LIBOR+95bp 25 7
Option2 ¥LIBOR+85bp 20 6
Option3 ¥LIBOR+75bp 15 5
Fixed Standard 1.40 30 10
Option1 1.20 25 7
Option2 1.00 20 6
Option3 0.80 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.

1 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.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 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. LDCs are not eligible for STEP.

3 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.

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

5 The base rate of Floating Loan is the value of the 6-month Japanese Yen LIBOR, 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%.

6 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

  • 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 interest 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 interest rate.
  • For Upper-Middle-Income Countries, Floating Term will be applied in principle, although Fixed Term could be applied.

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