AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 19 December 2014 the Japan Bank for International Cooperation (JBIC) signed a USD 249 million overseas investment loan agreement with Australian Kansai Electric Power Ichthys E&P Pty Ltd., a subsidiary of Japanese The Kansai Electric Power Company, Inc. The loan finances the company's purchase and development of an Australian natural gas and condensate field as well as the associated liquefaction facilities.
This acquisition is part of a larger LNG project between Japanese and foreign players' development of the Ichthys Gas and Condensate Field in Australia.
In this context the Bank stated: 'Thus, this loan is expected to contribute to the energy security of Japan through supporting the securing of interests in energy resources by Japanese companies. '
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank's website under overseas investment 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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