AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The buyer’s credit loan agreement between JBIC and Kazakh LLP Atyrau refinery has a maximum value of USD 178.5 million. Furthermore, the Governmental Nippon Export and Investment Insurance of Japan provides a Buyer's Credit Insurance for the portion cofinanced by a Japanese financial institution having a total value of USD 297.5 million.
The loan finances the Kazakh company's purchase of fluid catalytic cracker (FCC) and associated plant equipment from Japanese Marubeni Corporation.
In this context, JBIC stated: "JBIC's support for the export of FCC and associated equipment by a Japanese company will lead to the creation of business opportunities in the oil refinery and petrochemical sectors, thereby contributing to maintaining and improving the international competitiveness of Japanese industries."
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.
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