ANNOUNCEMENT 23 Mar 2015In March 2015, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release: Individual Loan Agreement under Export Credit Line for Yapi Kredi in Turkey. Available at: http://www.jbic.go.jp/en/information/press/press-2014/0325-36328
JBIC information on export loans: http://www.jbic.go.jp/en/finance/export
On 23 March 2015 the Japan Bank for International Cooperation (JBIC) signed an individual loan agreement with Turkish commercial bank Yapi ve Kredi Bankasi A.S. for approximately EUR 22 million (ca. USD 25.17 million). The loan was granted under the 2012 credit line that intends to promote exports to Turkey and its neighbours. The loan funds, through the Turkish commercial bank, the purchase, by Turkish Borusan Makina Ve Guc Sistemleri Sanayi Ve Ticaret A.S., of hydraulic excavators from Japanese Caterpillar Japan Ltd.
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.