ANNOUNCEMENT 02 May 2012In May 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 2 May 2012, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding with National Atomic Company Kazatomprom Joint Stock Company.
JBIC and Kazatoprom will exchange information on the company's investment plans and strategies, and on the financial facilities offered by JBIC. The MOU aims at identifying future finance projects that can be carried out jointly by Kazatoprom and Japanese companies in the field of rare-earth and rare metals.
The JBIC reported that the MOU is expected to 'lay down the groundwork for Japanese business development in Kazakhstan', thus 'creating business opportunities and promoting their business activities in Kazakhstan'.Such support will make it easier for Japanese firms to win contract in Kazakhstan compared to other foreign competitors.
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.