Embassy of Japan
Press Release
February 21, 2018
Exchange of Notes for Loan to the International Development Association
and the Global Concessional Financing Facility
On February 21st, Kenichiro Sasae, Ambassador of Japan to the United States, and Dr. Jim Yong Kim, President of the World Bank signed and exchanged the notes for loan from Japan to the IDA and the Global Concessional Financing Facility (GCFF).
Japan actively supports the IDA, a part of the World Bank Group, because of the extraordinary role it plays in seeking to reduce poverty in the poorest of countries.
As to the IDA 18th replenishment, Japan is committed to providing over 300 billion yen in the form of subscription and over 290 billion yen in the form of a concessional loan, accounting for 10.3% of the replenishment. Including the sum of grants and loans made, Japan is the largest contributor among the donor countries during the current funding round.
Japan is also committed to providing an up to 100-billion yen-loan to the GCFF, whose objective is to support middle-income host countries by providing concessional financing and improved coordination for development projects addressing the impact of the influx of refugees.
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