ANNOUNCEMENT 27 Dec 2021

December 27th, 2021 - The Japan Bank for International Cooperation announced it had signed a loan deal to fund a domestic firm's activities abroad.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Japan Bank for International Cooperation, December 27th, 2021. (オーストラリア連邦バロッサガス田権益取得・開発に対する融資)
https://www.jbic.go.jp/ja/information/press/press-2021/1227-015708.html

Inception date: 27 Dec 2021 | Removal date: open ended

Financial assistance in foreign market

On December 27th, 2021, the Japan Bank for International Cooperation (JBIC) announced it had signed a loan deal with JERA Barossa Pty Ltd, a subsidiary of the JERA Co. Ltd, an energy JV based in Japan, for USD 346m. The funding was aimed at supporting the development of the Barossa natural gas fields in the Northern Territories of Australia.

According to the press release announcing the deal, part of its conditions included an offtake agreement, whereby 425,000 tonnes of LNG annually would be exported to Japan through JERA, and 'JBIC will continue to actively support the development of energy resources by Japanese companies and provide financial support to secure a stable supply of energy resources in Japan'.

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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A