ANNOUNCEMENT 18 Oct 2012
On 18 October 2012, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with PT. Korintiga Hutani.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 18 October 2012, Loan for Manufacturing and Sales Project of Woodchips in Indonesia: http://www.jbic.go.jp/en/information/press/press-2012/1018-7464
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and PT. Korintiga Hutani has a maximum value of USD 28 million. Indonesian PT. Korintiga Hutani is a subsidiary of the Japanese company Oji Holdings Corporation.
The loan supports the Indonesian subsidiary's business activities involving manufacturing and sales of eucalyptus and acacia woodchips in Indonesia.
In this context, the Bank stated: "JBIC will continue to actively support the promotion of the development and the acquisition of woodchips and other important natural resources by Japanese companies."
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.