ANNOUNCEMENT 17 Jul 2013

In July 2013, the government of Japan announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Japan Bank for International Cooperation, Press Release:
http://www.jbic.go.jp/en/about/press/2013/0717-01/index.html


Inception date: 17 Jul 2013 | Removal date: open ended
Still in force

Trade finance

On 17 July 2013, the Japan Bank for International Cooperation (JBIC) agreed with the State-owned Petróleo Brasileiro S.A. to two export credit lines for the purchase of services and equipment. The credit lines amount to USD 1.5 billion, of which USD 900 million provided by JBIC and the rest by Mitzuho Corporate Bank Ltd. and other private institutions.
 
The funds shall be used to purchase services and/or equipment from Japanese companies. This measure disadvantages other suppliers that might compete or have competed for the contracts in question.
 
JBIC stated that 'supporting Japanese companies through the credit lines will contribute to maintaining and improving the international competitiveness of Japanese industries, as well as strengthening the economic relationship between the two countries'.
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A