JBIC's Emergency Measures in Response to Global Financial Turmoil
April 13, 2010
The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 has responded to the global financial turmoil with the following financial operations as temporary measures to support overseas business activities of Japanese firms.
- Provision of Supplier's Credit to finance Japanese exports to developing countries (credit for exporters) and loans for major domestic firms to finance their investment projects in developing countries (overseas investment loans).
These operations have been conducted pursuant to the “Immediate Policy Package to Safeguard People's Daily Lives” decided by the Ministerial Meeting on Economic Measures on December 19, 2008, and the public notice issued by the Ministry of Finance on December 25, 2008.
Note: As part of its ordinary operations, JBIC has been able to provide loans for domestic small and medium-sized enterprises to finance projects undertaken in developing countries.
- Provision of loans and guarantees for Japanese firms to finance their business operations in industrial countries.
These operations have been conducted under the Cabinet Order for Amendment of Part of the Enforcement Order of the Japan Finance Corporation Act approved by the Cabinet on December 26, 2008 and the public notice issued by the Ministry of Finance on January 27, 2009.
In these financing operations, the number of loans and guarantees provided through March 31, 2010, reached 130, with their overall amount totaling the equivalent of 2,059.4 billion yen. The following table shows their breakdown by country category, with two-step loans (TSLs) to domestic financial institutions grouped as a separate category.
|Number of Loans/Guarantees||Amount (equivalent of billion yen)|
|Two-Step Loans to Domestic Financial Institutions1,2||8||666.7|
1. The figures represent the sum of TSLs based on the “Policy Package to Address Economic Crisis” and TSLs based on the “Emergency Economic Countermeasures for Future Growth and Security”. The two sets of measures were announced by the Japanese government on April 10 and December 8, 2009, respectively.
2. TSLs to domestic financial institutions provided based on the “Emergency Economic Countermeasures for Future Growth and Security” include TSLs to their subsidiaries and affiliates in developing countries.
Following the one-year extension of Emergency Measures to the end of March, 2011, JBIC will continue to support Japanese firms to make assurance doubly sure on financing for their overseas business activities.
- JBIC's Response to Global Financial Turmoil
- Overseas Investment Finance for Japanese Firms to Finance Their Business Operations in Industrial Countries
- Overseas Investment Finance for Japanese Firms to Finance Their Business Operations in Industrial Countries No. 2: Eligible Business Operations
- JBIC Extends Emergency Measures Intended to Respond to Global Financial Turmoil