ANNOUNCEMENT 09 Oct 2013
On 9 October 2013, the Japan Bank for International Cooperation (JBIC) signed a general agreement with Moroccan Banque Marocaine du Commerce Extérieur creating a credit line to finance Moroccan and other African company's purchase of general machinery and equipment from Japanese companies.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 9 October 2013, Credit Line for BMCE Bank in Morocco: http://www.jbic.go.jp/en/information/press/press-2013/1009-13052
JBIC information on export loans: http://www.jbic.go.jp/en/finance/export
Under the agreement between JBIC and Moroccan Banque Marocaine du Commerce Extérieur, the export credit line extended by JBIC has a total value of USD 60 million. Through the Moroccan bank, the export credit line will finance Moroccan and other African companies' purchase of general machinery and equipment from Japanese companies. Additionally, the loan is cofinanced by a number of private financial institution amounting to an approximate value of USD 100 million. The governmental agency Nippon Export and Investment Insurance will provide an insurance for the cofinanced portion.
In this context, the Bank stated: "As a public financial institution, JBIC will continue to support Japanese industries, in cooperation with such overseas local financial institutions, by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function."
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.