AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 27 April 2011, the Japan Bank for International Cooperation (JBIC) signed an overseas loan agreement totalling a maximum CAD 250 million (approx. USD 257 million) with Canadian Cordova Gas Resources Ltd. The company is established by the Japanese companies Mitsubishi Corporation; Tokyo Gas Co., Ltd.; Chubu Electric Power Co., Inc.; and Osaka Gas Co., Ltd.
The loan finances the Canadian company's acquisition of 50% interest in Cordova Embayment located in British Columbia, Canada as well as the development and production of shale gas.
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.
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