ANNOUNCEMENT 28 Dec 2012In December 2012, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, Press Release: http://www.jbic.go.jp/en/about/press/2012/1228-02/index.html
On 28 December 2012, the Japan Bank for International Cooperation (JBIC) agreed with the Government of the Bolivarian Republic of Venezuela to offer an export loan to finance the national railway company, Istituto de Ferrocarriles del Estado.
The loan amounts to JPY 17 billion (USD 16.71 million), of which JPY 10.2 billion (USD 10.03 million) are provided by JBIC and the rest by Mizuho Corporate Bank, Ltd. The loan is extended for the purchase of railway cars produced by Japanese companies only. The JBIC reports that it will 'support the transport infrastructure deployment of Japanese companies in Venezuela'.
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.