ANNOUNCEMENT 29 Oct 2012In October 2012, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, Press Release:
On 29 October 2012, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding with the Australian Woodside Petroleum Ltd. for the support of projects undertaken jointly by the company and Japanese firms.
The two parties will hold periodic consultations regarding the natural-gas development projects undertaken by Woodside, and JBIC will 'consider financial assistance for these projects jointly undertaken by Japanese companies and Woodside'. The JBIC reports that 'the close exchange of information ... is expected to create opportunities for Japanese companies to participate in energy projects'.
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.