AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 3 December 2009, the Japan Bank for International Cooperation (JBIC) signed an export credit line agreement totalling a maximum of JPY 10 billion (approx. USD 113 million) with the Turkish commercial bank Turkiye Is Bankasi A.S. The credit line is intended to support exports of ships built in Japan to Turkey.
In this context the Bank stated: 'JBIC will continue to actively support the export of ships from Japan through co-financing with private financial institutions, while drawing on its network of clients such as regional banks in developing countries.'
In a press release published the following year, JBIC stated that this export credit line has: "... supported the export of 3 bulk carriers built in Mitsui Engineering & Shipbuilding Co., Ltd. and IHI Marine United Inc.".
Additionally, JBIC also signed a similar loan agreement with the Turkish commercial bank Yapi ve Kredi Bankasi A.S. in September 2010 and a new credit line with Turkiye Is Bankasi A.S in March 2011. Both agreements facilitate the export of Japanese built ships. See related measures.
Export credit lines
JBIC provides direct loans to overseas importers or export credit lines to foreign banks. Loans or credit lines 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.
⚑ Please report this page in case you detect an inaccuracy in its content.