AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 28 December 2009, the Japan Bank for International Corporation (JBIC) signed an export loan agreement with the Development Bank of Kazakhstan (DBK) totalling an approximate maximum of JPY 3.4 billion (approx. USD 37 million). Through DPK the loan will finance the Kazakh company Crystal Management LLP's thermal power plant project. The loan's proceeds will finance the purchase of three gas turbines and related equipment from Japanese company Hitachi Ltd.
In this context JBIC stated: 'JBIC is committed, through efforts similar to this financing, to supporting the expansion of Japanese firms' business operations in Kazakhstan, thereby helping to strengthen the economic ties between Japan and Kazakhstan.'
JBIC provides export loans to overseas importers or foreign banks. Such 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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