AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The import loan agreement between JBIC and the Bahamas companies TLNG Fukurokuju Shipping Corporation and LNG Jurojin Shipping Corporation has a total value of JPY 10.754 billion (USD 109.40 million) and JPY 10.955 billion (USD 111.44 million) respectively. Both companies are owned 70% by Japanese The Kansai Electric Power Co., Inc. and 30% by Japanese Mitsui O.S.K. Lines, Ltd.
The loan finances the Bahamas companies' purchase of LNG tankers utilised for the transportation of LNG produced from the Australia Pacific (AP) LNG Project and Ichthys LNG Project in Australia to Kansai Electric in Japan. The loans generally have the objective to secure LNG for the Japanese industry, in this case, the Japanese company Kansai Electric.
JBIC provides direct loans named import loan to Japanese importers or foreign exporters. Loans support trade transactions, which guarantee Japanese companies' acquisition of certain natural resources. Further information can be found on the Bank’s website under Import 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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