ANNOUNCEMENT 02 Aug 2014

In August 2014, the government of Japan announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



NEXI. /FPSO. Available at http://nexi.go.jp/topics/newsrelease/005401.html


Inception date: 02 Aug 2014 | Removal date: open ended
Still in force

Trade finance

On 2 August 2014, the Japanese Export Credit Agency NEXI announced a loan guarantee of USDĀ 500 million for Petrobras of Brasil.
The purpose of the guaranteed loan is to finance the 12 ships needed in the new Floating Production, Shortage and Offloading (FPSO) system in Santos oilfield. Petrobras has ordered the ships for FPSO from the Brasillian shipbuilding companies EEP and ECOVIX-Engevix, which are partially owned by the Japanese Kawasaki Heavy Idustries and Mitsubishi Heavy Industries.
The loan guarantee has been issued for 12 years.

AFFECTED SECTORS