AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 9 March 2016, the Japan Bank for International Cooperation (JBIC) signed an approximate EUR 244 million (Approx. USD 278.3 million) overseas investment loan agreement with Dutch Clusius C.V. in project financing. The company is a limited partnership established by Japanese Mitsubishi Corporation and Dutch Eneco Holding N.V.
The loan finances the company's operation of the offshore wind farm Luchterduinen (Q10) and sales of electricity to its wholly owned subsidiary Eneco Energy Trade B.V.
In this context the Bank stated: 'JBIC's support for Japanese companies to participate in such projects through long-term financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.'
Project financing loans include preferential terms such as repayments being solely made from the project's cash flow generation and secured on the basis of the project's assets alone. As such the loan agreement is tied to the project's finances and not the company in question.
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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