ANNOUNCEMENT 20 Dec 2021
20 December 2021 - The Japan Bank for International Cooperation announced it had signed a loan deal to support a domestic firm's activites overseas.
NUMBER OF INTERVENTIONS
Japan Bank for International Cooperation, 20 December 2021. (Spiber株式会社の米国法人が実施する人工構造タンパク質素材の製造事業に対する融資)
On 20 December 2021, the Japan Bank for International Cooperation (JBIC) announced it had signed a loan deal with a US-based subsidiary of Japanese firm Spiber Inc. The stated amount of the loan is for JPY 5 billion (USD 44 million).
Spiber is a biotech firm that is focuses on the manufacture of 'brewed protein'. This is a novel material that is composed of protein fibres, derived from fermentation of sugars by microbes, as opposed to from animal or petrochemical sources. The JBIC loan was stated to be for funding the expansion of the manufacturing process of these materials. According to the press release announcing the deal, the loan would, 'contribute to maintaining and improving the international competitiveness of Japanese industry and solving social issues by financially supporting Spiber's overseas business development'.
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.