Japan commits US$40M to First Citizens in IDB financing package
Japan will contribute US$40 million to First Citizens Bank through an Inter-American Development Bank (IDB) financing package aimed at supporting small and medium-sized enterprises and households in Trinidad and Tobago.
The agreement was signed at a ceremony on Wednesday, Nov. 11, at the IDB Group Country Office in St. Clair, according to a broadcast report. Japan’s ambassador to Trinidad and Tobago, Akima Umezawa, attended along with Planning Minister Kennedy Swaratsingh and First Citizens Acting Group CEO Sana Ragbeer, the report said.
The deal is part of a US$200 million financing framework, the report said. It includes US$140 million in committed loans, made up of US$100 million from IDB Invest and US$40 million from the Japan International Cooperation Agency (JICA) through its TADAC fund, alongside a US$60 million uncommitted option. IDB Invest’s project listing describes senior unsecured financing of up to US$200 million over up to seven years.
The funds are intended to expand financing for small businesses, grow mortgages for low- and middle-income families, accelerate digital banking and establish a sustainable lending portfolio, according to the report. Officials said the partnership reflects Japan’s continued commitment to inclusive growth and long-term economic resilience in Trinidad and Tobago and the wider Caribbean.
TADAC is a JICA-funded trust fund managed through IDB Invest. IDB figures cited by DevelopmentAid say it has deployed US$401 million across 12 projects in nine countries since its creation in 2025. In July, ANSA McAL secured financing that included US$50 million from JICA through the same fund, the Trinidad Guardian reported.
A transcript of a broadcast report supplied by the user, IDB Invest’s project listing for First Citizens, DevelopmentAid (IDB figures on TADAC) and the Trinidad Guardian.