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On 15 September 2010, the Japan Bank for International Cooperation (JBIC) signed a JPY 2.1 billion (approx. USD 24.5 million) Bank-to-Bank loan agreement with the Turkish commercial bank Yapi ve Kredi Bankasi A.S.(Yapi Kredi).
The loan will finance, through the Turkish commercial bank, the subdisiary of a Turkish shipping company's purchase of a Japanese built 28,000-dwt bulk carrier from Japanese Mitsubishi Corporation.
In this context the Bank stated: 'JBIC will continue to actively support the export of ships built in Japanese shipyards that perform a significant role in the regional economy, including employment creation, while drawing on its network of clients such as banks in foreign countries.'
Additionally, JBIC also signed similar loan agreements with Turkiye Is Bankasi A.S first in December 2009 and again in March 2011. Both agreements facilitate the export of Japanese built ships. See related measures.
JBIC provides export loans to foreign banks named Bank-to-Bank loans. Such loans are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export 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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