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JBIC to help Japanese regional banks in overseas project financing

Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corp. will help Japanese regional banks in project financing for Asian electric power infrastructures, The Nikkei reported Dec. 27.

The government funded bank and the banking unit of Sumitomo Mitsui Financial Group Inc. aim to broaden business opportunities for regional banks while promoting Japan's exports of power infrastructures by increasing the amount of money they can lend.

The two banks are in talks with Iyo Bank Ltd., Gunma Bank Ltd. and Chiba Bank Ltd., The Nikkei said without naming any project.