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: 29 Mar 2013 | Removal date: open ended
Still in force

Financial assistance in foreign market

The overseas investment loan agreement in project financing between JBIC and Dutch Cernambi Norte MV26 B.V. has a maximum value of USD 702 million. The Japanese companies MODEC, Inc., Mitsui & Co., Ltd, Mitsui O.S.K. Lines, Ltd, and Marubeni Corporation have all equity stakes in the Dutch company. 

The loan supports the long-term floating production, storage, and offloading (FPSO) system chartering service project undertaken by Cernambi Norte MV26 B.V. In this project the Dutch company will provide such FPSO chartering services to the consortium compant Tupi B.V. in the Iracema Norte area of the coast of Brazil.

In this context, JBIC stated: "JBIC will support the development and acquisition of strategically important resources to Japan, as well as the maintenance and improvement of the international competitiveness of Japanese marine industries."

Project finance
Project financing loans include preferential terms such as repayments being solely made from the project’s cash flow generation and secured on the basis of the project's assets alone. As such the loan agreement is tied to the project's finances and not the company in question.

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

652 Water transport services of freight

Please report this page in case you detect an inaccuracy in its content.