IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 24 Nov 2010 | Removal date: open ended
Still in force

Trade finance

On 24 November 2010, the Japan Bank for International Cooperation (JBIC) signed a JPY 19.3 billion (approx. USD 231.44 million) buyer's credit agreement with the Government of the Republic of Angola.
As part of the government's textile plant rehabilitation project, this loan will finance the purchase of a textile production facility from Japanese Marubeni Corporation. Hereunder, the Japanese companies Toyota Industries Corporation and Murata Machinery will manufacture textile machinery and equipment to be utilized for this part of the project.
In this context JBIC stated in a press release: 'This project marks the first step for the recovery of the Angolan textile industry, and is expected to lead to increased business opportunities for Japanese firms exporting textile machinery and equipment, which will play an essential part in the development of the industry by the Angolan government over the coming years. '
 
Buyer's credit agreements
JBIC provides direct loans named buyer's credit to overseas importers. 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.
According to UN Comtrade, no trading partner exceeded the GTA threshold of USD 1 million on the affected tariff lines in the year prior to the intervention. Thus, no affected trading partners have been identified.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

446 Machinery for textile, apparel & leather production; parts
8444 Machines for extruding, drawing, texturing or cutting man made textile materials.
844400 Machines for extruding, drawing, texturing or cutting man made textile materials.
8445 Machines for preparing textile fibres; spinning, doubling or twisting machines and other machinery for producing textile yarns; textile reeling or winding (including weftwinding) machines and machines for preparing textile yarns for use on the machines o
844511 Carding machines
844513 Drawing or roving machines
844520 Textile spinning machines
844530 Textile doubling or twisting machines
844540 Textile winding (including weftwinding) or reeling machines
844590 Other
8448 Auxiliary machinery for use with machines of heading 84.44, 84.45, 84.46 or 84.47 (for example, dobbies, Jacquards, automatic stop motions, shuttle changing mechanisms); parts and accessories suitable for use solely or principally with the machines of thi
844819 Other
844820 Parts and accessories of machines of heading 84.44 or of their auxiliary machinery
844831 Card clothing
844832 Of machines for preparing textile fibres, other than card clothing
844833 Spindles, spindle flyers, spinning rings and ring travellers
844839 Other
844842 Reeds for looms, healds and healdframes
844849 Other
844851 Sinkers, needles and other articles used in forming stitches
844859 Other

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