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 16, 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 0.90 30 10
Option1 0.75 25 7
Option2 0.60 20 6
Option3 0.40 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 1.00 30 10
Option1 0.85 25 7
Option2 0.70 20 6
Option3 0.50 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 1.30 30 10
Option1 1.10 25 7
Option2 0.90 20 6
Option3 0.65 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 1.50 30 10
Option1 1.30 25 7
Option2 1.10 20 6
Option3 0.85 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 1.50 30 10
Option1 1.30 25 7
Option2 1.10 20 6
Option3 0.85 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 1.70 30 10
Option1 1.50 25 7
Option2 1.30 20 6
Option3 1.05 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. Countries (except LDCs), which are eligible for tied aid under Arrangement on Officially Supported Export Credits issued by OECD, are eligible for STEP terms.

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.

PAGE TOP

Copyright © Japan International Cooperation Agency