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ECONOMY > Energy

EXCLUSIVE: JBIC to establish next-gen energy strategy office

  • June 29, 2022
  • , Jiji Press , 10:35 p.m.
  • English Press

Tokyo, June 29 (Jiji Press)–The Japan Bank for International Cooperation will establish a so-called next-generation energy strategy office to support Japanese companies that manufacture and provide hydrogen and ammonia, Jiji Press learned Wednesday.


The new office, which will help these companies expand overseas and develop technology, is slated soon to be set up in JBIC’s Energy and Natural Resources Finance Group, informed sources said.


The move comes amid growing attention to hydrogen and other substances that emit no carbon dioxide when burned as the momentum for decarbonization is increasing around the world.


The use of hydrogen and ammonia is expected to expand, including as fuels for thermal power generation.


On Wednesday, the government announced an ordinance revision to allow JBIC to expand operations in developed economies.


The revision made it possible for JBIC and private banks to jointly give loans to Japanese manufacturers of ammonia.


In 2020, the government implemented a similar ordinance revision for hydrogen.

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