ANNOUNCEMENT 12 Aug 2011
On 12 August 2011, the Japan Bank for International Cooperation (JBIC) signed an export loan agreement with Vietnam Oil and Gas Group to finance the purchase of steam turbines and related equipment from Japanese manufacturers.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 12 August 2011, Export Loan to PVN in Vietnam: http://www.jbic.go.jp/en/information/press/press-2011/0812-7340
JBIC information on export loans: http://www.jbic.go.jp/en/finance/export
The export loan between JBIC and Vietnam Oil and Gas Group has a value of USD 95.8 million. steam turbines and related equipment from Japanese companies Toshiba Corporation and Sojitz Corporation. The loan finances the Vietnamese company's purchase of steam turbines and related equipment from Japanese companies Toshiba Corporation and Sojitz Corporation.
In this context, JBIC stated: "JBIC is committed to support the expansion of Japanese exports to Vietnam as well as opportunities for Japanese businesses to participate in Vietnam’s projects drawing on its range of financial instruments and schemes."
JBIC provides direct loans named export loans to overseas importers. Loans 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.