ANNOUNCEMENT 07 Feb 2012In February 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/2011/0207-01/index.html
On 7 February 2012, the Japan Bank for International Cooperation (JBIC) agreed with Indonesia Eximbank to offer an export credit line for the purchase of machinery and equipment.
The credit line amounts to USD 100 million, of which USD 60 million provided by JBIC and the rest by Sumitomo Mitsui Banking Corporation. The funds can be used to extend medium- and long-term loans to finance the purchase of machinery, equipment and services by Indonesian companies from Japanese exporters.
The JBIC reported that 'this credit line will support the expansion of Japanese exports to the country and is expected to help further strengthen economic relations between the two 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.