ANNOUNCEMENT 24 Jan 2011In January 2011, 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 24 January 2011: Energy and Natural Resources Finance for the Acquisition of Interests in Shale Gas in the U.S.: http://www.jbic.go.jp/en/information/press/press-2010/0124-7226
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
On 24 January 2011, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement totalling USD 700 million with American Mitsui E&P USA LLC (MEPUSA). The company is a subsidiary established by the Japanese companies Mitsui & Co., Ltd. and Mitsui Oil Exploration Co., Ltd. The loan finances the subsidiary's purchase of 15.5% interest in the Marcellus Shale area located in Pennsylvania, USA and participate in its further development.
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.