AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 26 November 2015, the Japan Bank for International Cooperation (JBIC) signed an USD 11.5 million overseas investment loan agreement with Indonesian PT Krakatau Osaka Steel. The company is owned by Japanese Osaka Steel Co. Ltd. (80% stake) and the Indonesian state-owned company PT Krakatau Steel (20% stake).
The loan will finance the manufacturing and sales activates of construction steel products such as steel bars, small sections and flat bars in Indonesia.
In this context the Bank stated: 'Through the support of such overseas business deployment of OSAKA STEEL, (Osaka Steel Co. Ltd.) this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.'
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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