ANNOUNCEMENT 21 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 21 March 2013, the Japan Bank for International Cooperation (JBIC) signed two memorandums of understanding with two commercial banks in the Philippines for the development of frameworks to support Japanese SMEs through Japanese regional financial institutions. The two banks are BDO Unibank Inc. (BDO) and Metropolitan Bank and Trust Company (Metrobank).
JBIC will work for a more active collaboration to support the expansion of business operations of Japanese SMEs in the Philippines. As a first step, the two banks will open specific desks that exclusively provide services to 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.