Financial Institutions Extend Loan to Japanese Water Project

Six financial institutions have joined forces to extend an ¥14bn ($152m) loan to water-related businesses for the Yokohama City government project in Japan.

The syndicated loan will be used to fund the reconstruction of the Kawai Purification Plant in the Asahi Ward.

Mizuho Corporate Bank is the first commercial bank to join the syndicate to explore opportunities in the water industry.

An estimated ¥550bn ($6bn) is required annually to revamp Japan’s damaged water facilities.

The Tokyo-based commercial bank is planning to extend loans to water-related business at home and abroad.