ANNOUNCEMENT 10 Feb 2021
February 10th, 2021 - The Japan Bank for International Cooperation announced it was funding a domestic firm's expansion abroad.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, February 10th, 2021. (帝人株式会社のアメリカ合衆国法人が実施する自動車向け複合成形材料部品等の製造・販売事業に対する融資)
On February 10th, 2021, the Japan Bank for International Cooperation (JBIC) announced signing a loan agreement having a total value of USD 60 million with Teijin Holdings USA, a foreign subsidiary of Japanese firm Teijin Ltd.
The funding was stated to be aimed at 'business expansion and construction of a new factory. The firm in question produces specialised lightweight parts for use in manufacturing cars, specifically materials made of combinations of glass and carbon fibre.
In the press release announcing the loan, JBIC stated that '[t]his loan will contribute to maintaining and improving the international competitiveness of Japanese industry by supporting the overseas business development of Teijin'. It went on to reiterate that JBIC will 'continue to financially support the overseas business development of Japanese companies' with its loans and other support instruments.