ANNOUNCEMENT 09 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: JBIC Provides Export Credit Lines for Banco de Credito del Peru
Available at: http://www.jbic.go.jp/en/information/press/press-2009/1210-7214
JBIC information on export loans: http://www.jbic.go.jp/en/finance/export
On 9 December 2009, the Japan Bank for International Cooperation (JBIC) signed an export credit line agreement totalling respectively JPY 3 billion (approx. USD 34 million) and USD 30 million with the Peruvian commercial bank Banco de Credito del Peru. The credit line is intended to facilitate Peruvian importers' purchase of Japanese machinery, equipment and services.
In this context JBIC stated: 'JBIC will continue to actively support the overseas business development of Japanese industries by directly taking on the credit risk of local banks in financing.'
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.