Japan's 2nd-Round Funding for U.S. Projects to Total 10 T. Yen

Tokyo, March 18 (Jiji Press)--The second round of Japanese investments and loans for U.S. projects under the two countries' tariff agreement is expected to total about 10 trillion yen, informed sources said Wednesday.

With Japanese Prime Minister Sanae Takaichi and U.S. President Donald Trump scheduled to meet in Washington on Thursday, the two governments are preparing to release a joint document on the second installment of Japan's 550-billion-dollar investment and loan pledge.

The joint document is expected to mention projects to build a small modular reactor developed by GE Vernova Hitachi Nuclear Energy, a joint venture between GE Vernova Inc. and Hitachi Ltd., as well as two natural gas-fired thermal power plants, in efforts to meet growing power demand associated with the rapid development of artificial intelligence.

Last month, the two governments announced the first round of Japanese investments and loans, totaling 36 billion dollars for projects to build a gas-fired thermal power plant, export U.S. crude oil to Japan and produce synthetic diamonds. Japan's SoftBank Group Corp. has expressed interest in the thermal plant project.

Tokyo appears eager to demonstrate its commitment to the tariff deal to avoid unfavorable treatment by the Trump administration.

[Copyright The Jiji Press, Ltd.]