Japan provides US$1.5 billion for Brazil’s Petrobras

Japan Bank for International Cooperation signs two agreements.

Energy company Petroleo Brasileiro S.A. (Petrobas), the largest company in Latin America, will use the two lines of credit from JBIC to purchase equipment and services from Japanese companies in Brazil and abroad.

Mizuho Bank, Ltd. is the agent bank for these programs and the lines of credit will be 60% financed by JBIC and 40% by private Japanese financial institutions.

Petrobras and JBIC have established a close cooperative relationship over many years, with a number of joint operations already implemented.