JGC HD and IHI are participants in the business of small modular reactors (SMRs) being developed by NuScale. JBIC is a policy-based financing institution wholly owned by the Japanese government to facilitate financing, investing and security affairs as a complement to private-sector financing institutions, with a priority on investments in businesses contributing to protection of the global environment.

In the 6th Strategic Energy Plan, approved by the Cabinet in October 2021, the Japanese government made clear its position that R&D and demonstrations of SMR technology will be through international cooperation. JBIC’s action is in accordance with that policy.