ANNOUNCEMENT 06 Jan 2012In January 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/2011/0106-01/index.html
On 6 January 2012, the Japan Bank for International Cooperation (JBIC) agreed with Enka Pazarlama Ihracat Ithalat A.S. (Turkey) to offer an export credit line for the purchase of construction machinery and equipment.
The credit line amounts to JPY 15 billion (USD 153 million), of which JPY 7.5 billion (USD 76.5 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 construction machinery, equipment and services by Turkish companies from Japanese exporters.
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.