AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 4 March 2016, the Japan Bank for International Cooperation (JBIC) signed overseas investment loan agreement with PT Krakatau Nippon Steel Sumikin amounting to a maximum USD 22 million. The company is an Indonesian joint venture company between Japanese Nippon Steel & Sumitomo Metal Corporation (NSSMC) and PT Krakatau Steel (Persero) Tbk from Indonesia.
The loan finances the Indonesian joint venture company's manufacturing and sales of cold-rolled, hot-dip galvanized, and galvannealed steel sheets for automobiles.
In this context the Bank stated: 'Through the support of such overseas business deployment of NSSMC, 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.
Affected trading partners are identified based on UN Comtrade's import data from 2014.
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