ANNOUNCED AS TEMPORARYNo
On 31 March 2015 the Japan Bank for International Cooperation (JBIC) announced signing a JPY 13.384 billion (approx. USD 111.54 million) guarantee agreement with a number of commercial banks concerning principle and interest of loans to Japan Airline's Co., Ltd.
The loan is intended to support the airline's import an aircraft from The Boeing Company.
In this context the Bank elaborated: '...contributing to maintaining and strengthening the international competitiveness of the Japanese aviation industry.'
Guarantees for imports of manufactured goods
JBIC provides financial guarantees for goods and services deemed essential to the development of the Japanese economy. This includes the import of for example aircrafts. Further information can be found on the Bank's website under guarantees for imports of manufactured products.
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 trading partners are estimated on the basis of inbound air traffic to airports in Tokyo, Japan.
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