JPMorgan, other US banks set to help finance Japan's $550 billion US investment plan, sources say

JPMorgan and other US banks are set to help finance Japan's around $550 billion US investment plan, as Japanese banks have been reluctant to participate due to the high cost of raising long-term US dollar funds. So far, only around $2.2 billion in financing has been committed for the first batch of projects, with state-backed JBIC providing roughly one-third and Japanese megabanks MUFG, SMFG, and Mizuho co-financing the rest. The Japanese government is considering ways to help domestic banks procure US dollars, including potentially using foreign exchange reserves.