AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 1 March 2010, the Japan Bank for International Cooperation (JBIC) signed a USD 693 million overseas investment loan agreement with INPEX North Caspian Sea, Ltd. The Japanese company INPEX Corporation, among others, have equity stakes in the company.
The loan will finance INPEX North Caspian Sea's development of the Kashagan offshore oil field in the Kazakhstan-controlled territory of the North Caspian Sea. This oil field is being developed by an international consortium of various companies around the world, where INPEX North Caspian Sea has been part of this development since 1998 as a member of the consortium. The oil field is expected to commence crude oil production in the end of 2012.
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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