ANNOUNCEMENT 27 Dec 2021
December 27th, 2021 - The Japan Bank for International Cooperation signed a loan deal with two foreign subsidiaries of a Japanese firm to support business expansion overseas.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation (JBIC), December 27th, 2021. (伊藤忠丸紅鉄鋼株式会社がインドで出資するコイルセンター事業に対する融資)
On December 27th, 2021, the Japan Bank for International Cooperation (JBIC) signed a loan deal with two Indian subsidiaries of Marubeni Itochu Steel Inc. The firms received INR 986m (USD 13.2m) in total.
The loan was signed in pursuit of building steel distribution processing bases in three locations in India. According to the press release announcing the deal, 'there is an increasing need for local procurement of high-quality steel materials in India' as Japanese carmakers and electrical manufacturers expand their presence in the region.
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.