IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 29 Mar 2013 | Removal date: open ended
Still in force

Trade finance

On 29 March 2013, the Japan Bank for International Cooperation agreed with Turkiye Kalkinma Bankasi A.S. (TKB) to offer an export credit line to finance renewable energy projects in Turkey.
The credit line amounts to USD 100 million, of which 60 million are provided by JBIC and the rest by Sumitomo Mitsui Banking Corporation.
 
The loans extended with the funds are not conditional on procurement of equipment and materials from Japan (untied loans). However, the JBIC reported that 'through the expansion of the cooperative relationship, JBIC intends to support the industries and infrastructure businesses in which Japanese companies in Turkey participate'. Untied loans are granted to: i) sustain and expand trade and FDI from Japan, ii) help secure access to staple supplies of energy and mineral resources, iii) promote Japanese business activities.
 
The JBIC is a public financial institution and export credit agency created on 1 October 1999 through the merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund.

AFFECTED COUNTRIES

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