AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Under the agreement between JBIC and Banco de Costa Rica, the two credit lines extended by JBIC has a total value of USD 30 million. Additionally, the loan is cofinanced by a number of private financial institution amounting to an approximate value of USD 50 million. The governmental agency Nippon Export and Investment Insurance will provide insurance for the cofinanced portion.
The credit lines will finance Costa Rican importers' purchase of renewable energy-related facilities and climate change mitigation-related facilities as well as general machinery and equipment from Japanese companies. Renewable energy-related facilities include the following power sources: geothermal, wind, biomass, solar and solar thermal generation. Climate change mitigation-related facilities include the following areas: "thermal power plants with CCS facilities, CCS projects, waste to energy projects, hybrid power plants, combined heat & power projects, district heating and/or cooling related projects. CCS is a technology that separates, captures, and stores carbon dioxide, a major culprit of greenhouse gases, in deep sea beds or underground geological formations.".
In this context, the Bank stated: "As a public financial institution, JBIC will continue to support Japanese industries, in cooperation with such overseas local financial institutions, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function."
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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