AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 4 September 2015 the Japan Bank for International Cooperation (JBIC) signed a USD 60 million buyer's credit agreement with Singaporean IMC Holdings Limited to purchase four multipurpose vessels. The Japanese shipbuilding company Oshima Shipbuilding Co., Ltd. is contracted to build the vessels. A number of commercial financial institutions will additionally finance the purchase. Thegovernmental Nippon Export and Investment Insurance will insure this co-financed portion.
In this context JBIC stated: 'These loans are intended to support the export of ships built in a Japanese shipyard that performs a significant role in the regional economy and associated industries, including their mid-tier enterprises and small and medium-sized enterprises'
Buyer's credit agreements
JBIC provides direct loans named buyer's credit to overseas importers. Loans are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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