ANNOUNCEMENT 27 Mar 2013In March 2013, the government of Japan announced a change in its trade finance instruments.
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Japan Bank for International Cooperation , Press Release:
On 27 March 2013, the Japan Bank for International Cooperation (JBIC) agreed with the Development Bank of Southern Africa (DBSA) to offer an export credit line to finance the purchase of machinery, equipment and other products andservices from Japan for infrastructure and other projects in Southern Africa.
The credit line amounts to USD 100 million, of which 60 million are provided by JBIC and the rest by Mizuho Corporate Bank, Ltd. and the Bank of Tokyo Mitsubishi UFJ, with buyer's credit insurance provided by the Nippon Export and Investment Insurance (NEXI).
The JBIC reported that 'Japanese companies have increasing interest in 'South Africa' for export business of machinery and equipment, as well as other products and services' thus the credit line 'will contribute to maintain and improving the international competitiveness of Japanese industries through financial support for export of Japanese companies'.
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.