ANNOUNCEMENT 09 Mar 2018
In March 2018, the Japanese government issued a loan guarantee to Japanese Airlines.
NUMBER OF INTERVENTIONS
Japanese Bank for International Cooperation. (2018). Guarantee for Loans by Private Financial Institutions for Importing Aircraft. Available at https://www.jbic.go.jp/en/information/press/press-2017/0309-010654.html
On 9 March 2018 the Japan Bank for International Cooperation (JBIC) signed a guarantee agreement with private financial institutions for the principal and interest of their loans to Japan Airlines Co., Ltd. (JAL). The total value of the principal covered by this guarantee is JPY21.8 billion / USD 201 million. This guarantee is intended to support JAL in obtaining financing from private financial institutions to import aircraft from The Boeing Company in the U.S.
JBIC stated that: "... it [the guarantee] will contribute to maintaining and strengthening the international competitiveness of the Japanese aviation industry."
Guarantees for imports of manufactured goods
JBIC provides financial guarantees for goods and services deemed essential to the development of the Japanese economy. This includes the import of for example aircraft. Further information can be found on the Bank’s website under guarantees for imports of manufactured products.
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.