ANNOUNCEMENT 12 Oct 2012In October 2012, the government of Japan announced a change in its trade finance instruments.
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Japan Bank for International Cooperation, Press Release:
On 12 October 2012, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MOU) with Turkiye Is Bankasi A.S. (Isbank), a Turkish bank, to share information about export projects in the sector of renewable energy and climate change mitigation in Turkey.
The JBIC reported that the MOU aims at 'supporting potential export projects involving Japanese machinery and equipment, such as construction machinery to be used for infrastructure development, as well as its business deployment in Turkey and its neighboring countries'.
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.