|
November 13, 2024
Ministry of Finance
Press Release
The Japanese government and the Japan International Cooperation Agency (JICA) launched a pilot program of the “climate resilient debt clause” that will enable borrowing countries to temporarily defer debt repayments in case of certain natural disasters.
This mechanism allows countries that are vulnerable to natural disasters caused by climate change to defer principal and interest payments for up to two years following the occurrence of a pre-specified scale of tropical cyclones and earthquakes. Quickly securing liquidity in the event of disasters will help affected countries access additional liquidity, ease fiscal constraints, and mitigate negative impacts from the natural disasters.
Japan will introduce this mechanism for yen loans offered by JICA as a pilot program.
Please see the attached document for details.
（Attached）Japan launches a pilot program of the Climate Resilient Debt Clause (CRDC)(PDF:55KB)
|
