Upon meeting with President of Pakistan on 11 August 2004, Japanese Minister of Foreign Affairs expressed that Japan will resume its Yen Loan service to Pakistan in order to support Pakistan's battle against terrorism. Japan's yen loan has been suspended since the nuclear testing in 1998. Japan Bank for International Cooperation (JBIC) is responsible for Yen Loans, and also provides import and export credits to Japanese corporations (non-ODA international financing). JBIC is known for investing in large-scale infrastructure project with disastrous social and environmental impacts.

For lists of JBIC's proposed investment projects, please regularly check http://www.jbic-watch.net/ , maintained and updated by a group of Japanese NGOs. JBIC has so far refused to translate the project list into English. For stories related to establishment and problems with JBIC's new Environmental Guidelines, Objection Procedures (Inpsection Mechanism), and their implementation, please click here (see Catfish Tales #1, 14, and 16).