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: 25 Dec 2012 | Removal date: open ended
Still in force

Trade finance

On 25 December 2012, the Japan Bank for International Cooperation (JBIC) agreed with Gazprombank (Russian commercial bank) to offer an export credit line to finance the purchase of Japanese machinery and equipment.
The credit line amounts to USD 500 million, of which USD 300 million are provided by JBIC and the rest in form of buyer's credit insurance by Nippon Export and Investment Insurance (NEXI).
The credit line can be extended to Azerbaijan, Belarus, Kazakhstan, Russia, Turkmenistan and Uzbekistan. The JBIC argued that it 'intends to support the expansion of exports by Japanese companies to these countries'.
 
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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