ANNOUNCEMENT 19 Dec 2008In December 2008, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation (JBIC), Response to the Financial Turmoil
The JapanBankforInternational Cooperation (JBIC), a subsidiary of the Japan Finance Corp. owned by the Japanese government, introduced two measures as an exceptional support to Japanese exports and overseas business of Japanese firms. These are: 1. Supplier´s credit to Developing countries scheme supporting Japanese companies in their exports to developing countries (credit for exporters) and 2. investment loans for Japanese firms to finance projects in developing countries. The measures were introduced on December 19, 2008 with a limited duration until March 2010 and were now extended until March 2011.
The measures are based on the Immediate Policy Package to Safeguard People's Daily Lives introduced by the Ministerial Meeting on Economic Measures on December 19, 2008, and the public notice issued by the Ministry of Finance on December 25, 2008.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.