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: 03 Feb 2011 | Removal date: open ended
Still in force

Trade finance

On 3 February 2011, the Japan Bank for International Cooperation (JBIC) signed four buyer credit agreements with Panamanian Panavenflot Corp. The loans amount to JPY 4.9 billion (approx. USD 60 million) each and finances the company's purchase of four 104,300-DWT Aframax Crude Oil Carriers from Japanese ITOCHU Corporation.
In this context the Bank stated: 'These loans will support the export of ships built by a domestic shipyard, thereby helping maintain and improve the international competitiveness of Japanese shipbuilders. '
 
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.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

493 Ships
8901 Cruise ships, excursion boats, ferryboats, cargo ships, barges and similar vessels for the transport of persons or goods.
890110 Cruise ships, excursion boats and similar vessels principally designed for the transport of persons; ferryboats of all kinds
890120 Tankers
890130 Refrigerated vessels, other than those of subheading 8901.20
890190 Other vessels for the transport of goods and other vessels for the transport of both persons and goods

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