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: 30 Mar 2017 | Removal date: open ended
Still in force

Trade finance

The buyer’s credit loan agreements between JBIC and the Government of the Republic of Iraq has a maximum value of JPY 10.3 billion (USD 92.16 million) and USD 193 million respectively. The loan finances the Government of the Republic of Iraq's purchase of substation facilities from the Japanese company Toyota Tsusho Corporation. The Japanese companies TOSHIBA CORPORATION, which manufacture a 400/132kV substation equipment for 4 sites, and  MEIDENSHA CORPORATION, which will manufacture 132/33kV mobile substation equipment for 12 sites. Notably, Toyota Tsusho Corporation assumes engineering, procurement and construction of this equipment.

In this context, the Bank stated: "JBIC will continue to support Japanese companies' export of infrastructure facilities, as well as their overseas business deployment, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function."

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.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

461 Electric motors, generators & transformers; parts
8504 Electrical transformers, static converters (for example, rectifiers) and inductors.
850421 Having a power handling capacity not exceeding 650 kVA
462 Electricity distribution & control apparatus; parts
8537 Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 85.35 or 85.36, for electric control or the distribution of electricity, including those incorporating instruments or apparatus of Chapter 90, and nu
853710 For a voltage not exceeding 1,000 V

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