ANNOUNCEMENT 26 Feb 2015In February 2015, the government of Japan announced new support for the overseas expansion of domestic firms.
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The Japan Bank for International Cooperation press release: Loan for Manufacturing and Sales of Cold Rolled Steel Sheets and Surface Processed Steel Sheets in Turkey. Available at: http://www.jbic.go.jp/en/information/press/press-2014/0302-35584
JBIC information concerning overseas investment loans: http://www.jbic.go.jp/en/finance/investment
On 26 February 2015 the Japan Bank for International Cooperation (JBIC) signed two overseas investment loan agreements totalling USD 178 million. The first loan agreements (USD 87 million) with Tosyali Toyo Celik Anonim Sirketi, a company jointly established by Japanese Toyo Kohan Co., Ltd. and Turkish Tosyali Holding A.S. The second loan agreement was signed with Turkish commercial bank Yapi ve Kredi Bankasi A.S. amounting to USD 91 million. The loan agreements are intended to fund the manufacturing and sales of surface treated steel sheets and cold rolled steel sheets produced by Tosyali Toyo Celik Anonim Sirketi.
In this context the Bank stated: 'Thus, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries through support for such overseas business deployment by Toyo Kohan.'
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.
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.