AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The overseas investment loan agreement between JBIC and Japanese Tokyo Gas Co., Ltd has a maximum value of USD 159 million. The loan finances the Japanese company's Australian subsidiary Tokyo Gas Gorgon Pty Ltd participation an LNG project. In this project, the Australian subsidiary will jointly develop a large-scale gas field with a number of foreign companies in Australia. Tokyo Gas Gorgon Pty Ltd has a 1% interest in the project and will offtake an annual aggregated amount of 1.25 million tonnes of LNG.
In this context, the bank stated: "JBIC will continue to support Japanese companies for acquiring interests in natural gas and crude oil and for developing these resources."
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.
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