AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The export loan between JBIC and VEB has a value of USD 22.95 million. The governmental agency Nippon Export and Import Insurance (NEXI) provides a Buyer’s Credit Insurance for the cofinanced portion of approximately USD 38.25 million provided by Japanese The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Through VEB, the loan finances the Russian company Amurskaya Lesopromyshlennaya Kompaniya LLC's purchase of wood processing machinery and equipment from the Japanese company Hashimoto denki Co., Ltd.
In this context, JBIC stated: "JBIC will continue to support the expansion of export business targeting Russia and other countries by Japanese firms, including SMEs."
JBIC already approved an export loan in June 2011 (see related measure). Both loans follow the Memorandum of Understanding signed between VEB and JBIC in May 2009.
JBIC provides direct loans named export loans 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.
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