ANNOUNCEMENT 29 Mar 2010In March 2010, the government of Japan announced new support for the overseas expansion of domestic firms.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release of 30 March 2010: JBIC Signs Loan Agreement with VINACOMIN: http://www.jbic.go.jp/en/information/press/press-2009/0330-7167
The Japan Bank for International Cooperation, Import Loans: http://www.jbic.go.jp/en/finance/import
On 29 March 2010, the Japan Bank for International Cooperation (JBIC) signed an import loan agreement totalling a maximum USD 150 million with Vietnam National Coal - Mineral Industries Group (VINACOMIN). In this context the Vietnamese company will sign separate long-term off take contracts with the two Japanese companies JFE Steel Corporation and Sumitomo Metal Industries, Ltd. The two companies produce various steel goods. These contracts secure the supply of anthracite coal from VINACOMIN for the period equal to that of the above loan.
JBIC provides direct loans named import loan to Japanese importers or foreign exporters. Loans support trade transactions, which guarantee Japanese companies' acquisition of certain natural resources. Further information can be found on the Bank's website under Import 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.