AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 31 March 2015 the Japan Bank for International Cooperation (JBIC) signed a buyer's credit loan agreement amounting to USD 409 million with Vietnam Electricity.
The loan finances the company's purchase of steam turbines and generators manufactured by Japanese Toshiba Corporation and the engineering, procurement and construction, from Japanese Sumitomo Corporation, in connection with the of coal-fired power plant to be built in Viet Nam.
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.
According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million in on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.
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