ANNOUNCEMENT 20 Jun 2013
On 20 June 2013, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with Kureha (Changshu) Fluoropolymers Co., Ltd.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 20 June 2013, Loan for Manufacturing and Sales of Vinylidene Fluoride Resin in People's Republic of China: http://www.jbic.go.jp/en/information/press/press-2013/0620-7532
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and Kureha (Changshu) Fluoropolymers Co., Ltd has a maximum value of JPY 1.6 billion (USD 16.44 million). The company is a Chinese subsidiary of the Japanese company KUREHA CORPORATION. The loan finances the Chinese subsidiary's manufacturing and sales operation of vinylidene fluoride resin in China.
In this context, the Bank stated: "This loan will support business operations of G-TEKT in Indonesia, thereby contributing to maintaining and improving the international competitiveness of Japanese auto parts manufacturers."
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.