ANNOUNCEMENT 17 Dec 2009In December 2009, the government of Japan announced a change in financial export support.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation press release: Export Credit Line for Bulgarian Development Bank
Available at: http://www.jbic.go.jp/en/information/press/press-2009/1218-7219
JBIC information on export loans: http://www.jbic.go.jp/en/finance/export
On 17 December 2009, the Japan Bank for International Cooperation (JBIC) signed an export credit line agreement totalling EUR 20 million (approx. USD 28.6 million) with the Bulgarian Development Bank AD. The credit line is intended to facilitate Bulgarian importers' purchase of Japanese machinery, equipment and services through medium and long-term funds in Euro or Japanese Yen.
In this context JBIC stated that this: '... will facilitate the purchase of machinery, equipment and services from Japan and is thereby expected to lead to increased exports by Japanese firms to Bulgaria '
Export credit lines
JBIC provides direct loans to overseas importers or export credit lines to foreign banks. Loans or credit lines are obtained if it finances the purchase of Japanese machinery, equipment or technology in specific eligible sectors. The Bank hereto stated that these loans are intended to 'positively contribute to Japanese companies'. Further information can be found on the Bank's website under export 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.