ANNOUNCEMENT 29 Jan 2010

In January 2010, the government of Japan announced new support for the overseas expansion of domestic firms.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



The Japan Bank for International Cooperation press release:JBIC Signs Loan Agreement for Acquiring Interest in and Developing Yme Oil Field in Norway
Available at: http://www.jbic.go.jp/en/information/press/press-2009/0209-7144

JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment


Inception date: 29 Jan 2010 | Removal date: open ended

Financial assistance in foreign market

On 29 January 2010, the Japan Bank for. International Cooperation (JBIC) signed a USD 25 million overseas investment loan agreement with Norwegian Norske AEDC AS, a subsidiary of Japanese Arabian Oil Company, Ltd.
 
The loan finances the company's purchase of a 10% stake in the Yme oil field and neighbouring mining blocks located around 150 km from the Norwegian city Stavanger.
In this context the Bank stated: 'JBIC will keep providing financial support for facilitating the development and acquisition of interests in important natural resources by drawing on its various financial tools and risk-taking functions.'
 
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.

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