ANNOUNCEMENT 10 Apr 2012In April 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 10 April 2012, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding with UK Trade and Investment.
The MOU is expected to promote Japanese investment in the field of infrastructure (energy generation and transportation projects) in the UK.
The JBIC reported that the MOU is expected to 'promote business activities of Japanese companies that are considering business in the UK'. Such support will make it easier for Japanese firms to win contract in the UK 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.