ANNOUNCEMENT 09 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/2011/0309-01/index.html
On 9 March 2012, the Japan Bank for International Cooperation (JBIC) agreed with ISAGEN S.A. E.S.P. (Colombia) to offer an export loan of USD 65.8 million, of which USD 39.5 provided by JBIC and the rest by the Bank of Tokyo Mitsubishi and the Tokyo Branch of Banco Bilbao Vizcaya Argentaria.
The loans will finance the purchase of a set of equipment for the construction of a power plant from a Japanese consortium of Mitsui & Co. Plant Systems, Ltd. and Toshiba International Corporation.
The JBIC stated that through this loan it 'supports Japanese firms' export of power generation system, helps to create business opportunities for Japanese industries in the power sector in Colombia and consequently contributes to maintaining and improving their international competitiveness'.
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.