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 2018 | Removal date: open ended
Still in force

Financial assistance in foreign market

A loan agreement for 492 million USD was signed into effect on March 29th, 2018 by the Japanese Bank for Internation Cooperation (JBIC) with the Dutch company Sepia MV30 B.V (SEPMV30) which is incorporated by MODEC Inc. Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd., Marubeni Corporation and Mitsui Engineering & Shipbuilding Co., Ltd based in Japan. For a further 987 million USD of co-financing the Sumitomo Mitsui Banking Corporation, ING Bank N.V., French Société Générale, Mizuho Bank Ltd., Overseas-Chinese Banking Corporation Limited, the Bank of Tokyo-Mitsubishi UFJ, Ltd. and ABN AMRO Bank N., have signed on.

The loan's purpose is to the finance long-term vessel chartering services and underwater resource development by Japanese companies which will be provided to Petróleo Brasileiro S.A. (Petrobras), a state-owned oil company in Brazil; thereby furthering the development of the Sepia oilfield off the coast of Brazil.  

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.

Project finance 
Project financing loans include preferential terms such as repayments being solely made from the project’s cash-flow generation and secured on the basis of the project's assets alone. As such the loan agreement is tied to the project's finances and not the company in question.

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

120 Crude petroleum & natural gas

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