According to CoinMeta, as reported by Nikkei News, Japan's state-owned company, Nippon Trade & Insurance Corporation (nexi), will provide insurance for an infrastructure loan provided by the multilateral institution Inter-American Development Bank (IDB) to a state in southeastern Brazil. The two parties will sign an insurance contract on Monday, which will cover the loan provided to the state of Espírito Santo in Brazil. This will be the first time that nexi has provided loan insurance for an international organization, supporting Japanese companies in entering the South American and Central American markets. Expanding business in these regions is expected to help Japanese companies increase their procurement of resources such as crude oil and rare earth metals, thereby mitigating growing economic security risks.