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: 31 May 2011 | Removal date: open ended
Still in force

Financial assistance in foreign market

On 31 May 2011, the Japan Bank for International Cooperation (JBIC) signed an overseas loan agreement with Australian Shark Bay Resources Pty Ltd. (SBR) totalling approximately AUD 50 million (approx. USD 53 million). The company is a subsidiary of Japanese Mitsui & Co., Ltd.
The loan finances the refurbishment of Shark Bay salt field's port facilities to facilitate the further production of solar salt. Notably, the salt field is 100% Japanese owned.
In this context the Bank stated: 'JBIC provides this long-term, Australian dollar-denominated loan with the aim of reducing the exchange risk borne by SBR.'
 
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.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

162 Salt & pure sodium chloride; sea water
2501 Salt (including table salt and denatured salt) and pure sodium chloride, whether or not in aqueous solution or containing added anticaking or freeflowing agents; sea water.
250100 Salt (including table salt and denatured salt) and pure sodium chloride, whether or not in aqueous solution or containing added anticaking or freeflowing agents; sea water.

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