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: 14 Nov 2012 | Removal date: open ended
Still in force

Trade finance

On 14 November 2012, the Japan Bank for International Cooperation (JBIC) agreed with AKBANK T.A.S., a Turkish bank, to offer an export credit line for the purchase of Japanese machinery and equipment.
 
The credit line amounts to US$ 5000 million, of which US$ 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 used to extend loans to local companies in Turkey and its neighboring countries to purchase Japanese machinery and equipment.
 
The JBIC reported that this 'credit line will support the export of machinery and equipment to Turkey and its neighboring countries, thereby contributing to maintaining and improving the international competitiveness of Japanese industries'.
 
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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