JBIC and two US banks, Citibank and JPMorgan Chase, agreed to lend about $4.61 billion to US investment vehicles JBIC set up to fund natural-gas power projects in Pennsylvania and Texas. Power from the plants is expected to supply data centers. Japan's export insurer NEXI covers the private banks' portion. It is the first financing in the second wave of projects under the $550 billion Japan–US investment deal. What was agreed The package is two separate loans, both signed on August 7, 2026 and announced on August 14. For the Pennsylvania project, JBIC lends about $801 million to Japan Invest 4 LLC, and total co-financing with Citibank and JPMorgan Chase comes to about $2.397 billion. For the Texas project, JBIC lends about $739 million to Japan Invest 5 LLC, out of a total of about $2.213 billion. JBIC's own lending therefore totals about $1.54 billion, with the two US banks providing the rest. Both borrowers are US companies capitalized by JBIC, and the money funds their initial investment in the projects. Citi said it acted as both lender and agent. The projects The two plants, NextEra Energy's South Mon project in southwestern Pennsylvania and a gas project in Anderson County, Texas, belong to the second round of projects announced on March 19, 2026, which is covered in a separate entry. JBIC classified the Texas project as Category A, its highest environmental-review tier, in an August 28 report. How it compares The first-wave financing, announced on May 1, 2026, totaled about $2.221 billion across three projects and was co-financed with Japan's three megabanks, MUFG, Sumitomo Mitsui and Mizuho, again with NEXI cover. A gas-fired plant in Ohio took about $1.885 billion of that, with $313 million for a crude oil export terminal and $23 million for synthetic diamond production. Kyodo reported that the government had been looking at bringing in foreign banks because Japanese lenders were concerned about the cost of raising dollars.
