Japan's three megabanks and the government-backed Japan Bank for International Cooperation plan to provide ¥250 billion (about $1.5 billion) in loans for the first round of projects in the United States under the Japan-U.S. tariff agreement.

The entities are expected to invest additional funds in stages later on, informed sources said Friday.

The first-round projects are the construction of a gas-fired thermal power plant in Ohio, the development of crude oil export facilities and the production of synthetic diamonds. The total value of the three projects is expected to reach $36 billion.

One-third of the planned loans will be provided by JBIC and two-thirds by the megabanks — MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank. Loans by the three banks will be guaranteed by state-backed Nippon Export and Investment Insurance (NEXI).

In exchange for lower U.S.…