Japan’s Dai-ichi Life Insurance has extended a 9.4 billion yen (US$87.5 million) loan to West African countries as part of its efforts to promote environmental, social and governance investing.
The loan will used to finance infrastructure projects in West African countries, including in Togo, Dai-ichi Life says in a statement on March 27.
The loan is arranged by Mitsubishi UFG Financial Group and Deutsche Bank and covered by the African Trade Insurance Agency, a unit of African Development Bank.
According to Dai-ichi Life, it “aims to contribute to improving the quality of life and economic development in West African countries, as well as achieve a target investment return”, adding that the company will continue to enhance investment returns “through increasingly sophisticated and diverse investment methods”.
The insurer says it has invested 15.4 billion yen for development and improvement of infrastructure in West African countries in the current financial year ending March 31.
Tokyo-based Dai-ichi Life had 36.2 trillion yen of total assets as of December 2019.
