AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 31 March 2011, the Japan Bank for International Cooperation (JBIC) signed a JPY 15.3 billion (approx. USD 185 million) Bank-to-Bank loan agreement with Indian ICICI Bank Limited.
The loan finances, through ICICI Bank, Indian Jaiprakash Power Ventures Limited purchase of fabricate supercritical pressure boiler/turbine sets manufactured by Japanese Mitsubishi Heavy Industries, Ltd. and exported from Japan by Marubeni Corporation.
In this context JBIC stated: 'JBIC is committed to continue steady support for Japanese business development in as well as exports to India's fast growing markets.'
Notably, JBIC signed an export credit line with ICICI Bank in March 2009, see related measure.
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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