Higo Bank and Kagoshima Bank, subsidiaries of Kyushu Financial Group, and Development Bank of Japan announced that they would establish a collaborative program to support recovery from the Kumamoto earthquake. They will arrange a facility providing approximately ¥10 billion in total funding for the recovery of disaster-affected companies and regional supply chains.
Higo Bank and Kagoshima Bank, subsidiaries of Kyushu Financial Group, and Development Bank of Japan announced that they had established the Kumamoto Earthquake Recovery Collaborative Program to restore and rebuild businesses affected by the Kumamoto earthquake and the regional industrial base. Through investments and financing, including syndicated loans, the 3 institutions will support the creative reconstruction of disaster-affected companies and the entire supply chain.
The program will arrange the Kumamoto Earthquake Creative Recovery Support Facility, providing approximately ¥10 billion in total funding. Because the impact of an earthquake spreads beyond physical damage to equipment through suspended transactions and falling demand, the program places emphasis on integrated support and monitoring of conditions.
The program is also intended to promote improvements in disaster resilience and business continuity plans (BCPs) prompted by the disaster. It will combine the regional networks of Higo Bank and Kagoshima Bank with Development Bank of Japan's expertise in integrated investment and financing services. Support is also expected to be advanced in cooperation with local governments.