ANNOUNCEMENT 14 Jun 2012In June 2012, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, Press Release:
On 14 June 2012, the Japan Bank for International Cooperation (JBIC) agreed with Hydrochem (S) Pte Ltd. (Singapore) to offer an export loan.
The loan amounts to USD 14.4 million, of which USD 7.2 million are provided by JBIC and the rest by Mitzuho Corporate Bank Ltd.
The loan can be used to purchase key components (manufactured by Japanese companies) for the membrane-based sweater desalination plant in west Singapore.
The JBIC stated that its support 'will contribute to maintaining and improving the international competitiveness of Japanese companies in water-related business'.
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.