ANNOUNCEMENT 01 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 1 March 2013, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MOU) with RHB Bank Berhad (RHB) to support environment-related projects and overseas business deployment of Japanese companies in Malaysia and ASEAN countries.
The two banks will support industries that facilitate the overseas expansion of Japanese businesses. RHB has set up a Japan Desk, which only serves Japanese affiliates and subsidiaries.
The JBIC reported that 'the present MOU is expected to increase business opportunities of Japanese companies including SMEs in Malaysia and the ASEAN region'.
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.