AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 22 February 2016, the Japan Bank for International Cooperation (JBIC) signed a USD 111 million overseas investment loan agreement with Al Gharbia Pipe Company LLC (AGPC) from the United Arab Emirates. AGPC is a joint venture company between the Japanese companies JFE Steel Corporation (JFE) and Marubeni-Itochu Steel Inc. (MISI) and the Abu Dhabi government owned company General Holding Corporation PJSC/SENAAT. The loan finances the joint venture company's sales and manufacturing of large-diameter welded steel pipes for oil and gas pipelines.
In this context the Bank stated: 'Thereby, the loan will contribute to maintaining and strengthening the international competitiveness of the Japanese steel industry through supporting the overseas business deployment of JFE and MISI.'
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.
Affected trading partners are identified based on UN Comtrade's import data from 2014.
⚑ Please report this page in case you detect an inaccuracy in its content.