ANNOUNCEMENT 30 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/2011/0330-03/index.html
On 30 March 2012, the Japan Bank for International Cooperation (JBIC) agreed with the African Export-Import Bank (Afrexibank) to offer an export credit line for the purchase of services and equipment.
The credit line amounts to USD 100 million, of which USD 60 million provided by JBIC and the rest by The Bank of Tokyo- Mitsubishi UFJ, Ltd. The funds can be used to extend medium- and long-term loans to finance the purchase of services and/or equipment by African companies from Japanese exporters.
The JBIC hopes that 'this loan will help sustainable growth in this region through financial support for Japanese exports to African countries'.
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.