At the 19th Ordinary Meeting of the ADFIAP General Assembly held on April 20, 2011 in Kyrenia, North Cyprus in conjunction with the 34th ADFIAP Annual Meetings, the Development Bank of Japan, Inc. (DBJ), represented by its General Manager for International Strategy and Coordination Department, Mr. Takayuki Yamamoto, presented the developments on the recent disaster that struck Japan and the government’s response as well as the role of DBJ.
In response to the crisis, Mr. Yamamoto mentioned that the Japanese government has decided to build into the first 2011 fiscal year supplementary budget, a crisis response loan program for corporate entities, the amount of which, as of this writing, is yet to be finalized although there is mention of about JPY 3 trillion or equivalent to US$ 35 billion. The said loan will be addressed through government-designated financial institutions funded by the Japan Finance Corporation to directly-damaged companies as well as companies affected by the disruption of the supply chain and those affected by power shortage caused by the nuclear power plant accident. The DBJ will function as one of these financial institutions to provide funds through this program.
DBJ, Inc. https://www.dbj.jp/en/ was established on October 1, 2008 under the terms of the Development Bank of Japan Inc. Law approved by the Japanese Diet on June 6, 2007 as part of the Law on the Promotion of Administrative Reform to Bring About a Simple and Efficient Government and the fundamental reform of policy-based finance. DBJ enjoys trust-based networks with clients, as well as partners among regional governments and financial institutions.