ANNOUNCEMENT 29 Feb 2016In February 2016, the government of Japan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release of 1 March 2016: Guarantee for Loan by Private Financial Institutions for Import of Aircraft: http://www.jbic.go.jp/en/information/press/press-2015/0301-46941
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 29 February 2016 the Japan Bank for International Cooperation (JBIC) signed a JPY 9 billion (approx. USD 83.83 million) principal covered guarantee agreement with a number of commercial banks concerning principle and interest of loans to Japan Airlines Co., Ltd. The loan is intended to support the airline's import of aircraft from the American Boeing Company. In this context JBIC stated that this loan contributes: '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.