ANNOUNCEMENT 30 Jul 2015In July 2015, the government of Japan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release: Guarantee for Loan by Private Financial Institutions for Importing Aircraft. Available at: http://www.jbic.go.jp/en/information/press/press-2015/0730-40443
List of airlines landing in Tokyo Japan:
Haneda Airport: http://www.haneda-airport.jp/inter/en/flight/company_list.html#internationalComsW
Narita Airport: http://www.narita-airport.jp/en/guide/t_info/index.html
JBIC information on guarantees for imports of manufactured products: http://www.jbic.go.jp/en/finance/guarantee
On 30 July 2015, the Japan Bank for International Cooperation (JBIC) signed a guarantee agreement of around JPY 5.9 billion (approximately USD 49 million) with eight financial institutions covering the principal and interest of loans granted to TLC Asset Co., Ltd.
The loan is granted with the intention to support the purchasing of an aircraft from The Boeing Company in the United States by TLC Asset Co., Ltd. to be hereafter leased to Japanese All Nippon Airways Holdings Inc.
In this context the Bank stated: 'This loan is intended to support the borrowing from private financial institutions of the funds required to import an aircraft ... thereby 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.