AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
During Prime Minister Abe's visit to the International Economic Forum (May 24-26, 2018) in St. Petersburg, Russia, a JBIC sponsored export credit line of 30 billion Yen ($275 million USD) was given to Russia and neighboring countries (CIS countries, Central Asia, etc.) A maximum amount of 40 billion Yen ($367 million USD) can be reached when consigned with Russia's largest commercial bank, Sverbank of Russia. The loan may be accessed by Russian and other CIS countries which hope to purchase Japanese machinery and equipment from Japanese exporters.
With this credit line, JBIC aims to maintain and improve the international competitiveness of Japanese industries by promoting exports from Japan to Russia and its surrounding countries ("...本クレジットラインは、日本からロシア、更にはその周辺国への輸出を促進することで、日本の産業の国際競争力の維持・向上に貢献するものです").
Export credit lines
JBIC provides direct loans to overseas importers or export credit lines to foreign banks. Loans or credit lines 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.
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