ANNOUNCEMENT 17 Apr 2013In April 2013, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, Press Release:
For affected trading partners, OCO - Foreign Direct Investment
"FDI in Renewable Energy": http://www.ocoglobal.com/uploads/default/files//FDI_in_Renewable_Energy_-_A_promising_decade_ahead.pdf
On 17 April 2013, the Japan Bank for International Cooperation (JBIC) agreed with Banco Centroamericano de Inegración Económica to offer an export credit line to finance Japanese exports in Central America and other countries.
The credit line amounts to USD 50 million, of which 30 million are provided by JBIC and the rest in form of buyer's credit insurance by Nippon Export and Investment Insurance (NEXI).
The credit line can be used to extend medium- and long-term loans to local companies for the purchase of general machinery and equipment related to the following sectors: renewable energy, climate change mitigation and water industry.
The JBIC reported that 'the credit line is supporting the expansion of Japanese exports to countries in Central America and others'.
The JBIC is a public financial institution and export credit agency created on 1 October 1999 through the merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund.