ANNOUNCEMENT 23 Mar 2012In March 2012, the government of Japan announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, Press Release: http://www.jbic.go.jp/en/about/press/2011/0323-01/index.html
On 23 March 2012, the Japan Bank for International Cooperation (JBIC) agreed with JSW Steel Limited in India to offer an export loan of JPY 10.3 billion (USD 105.22 million).
The loans will finance the purchase of a continuous annealing line, a continuous galvanizing line and technological services associated with them. The Indian company will buy the product from the Japanese JFE Shoji Trade Corporation for the construction of a cold rolling mill in Karnataka State.
The JBIC argued that 'these loans will support the export of Japanese firms and contribute to maintaining and improving the international competitiveness of Japanese industries'.
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.