JBIC and Ukreximbank at signing
JBIC signed an agreement with The State Export-Import Bank of Ukraine (Ukreximbank), a government financial institution in Ukraine, for extending an export credit line*1 totaling up to 8 billion yen. The credit line was cofinanced with private financial institutions.
This credit line will provide medium- and long-term funds in yen or U.S. dollars to finance the import of machinery, equipment and services by Ukrainian firms from Japanese exporters.
The Ukraine suffered a significant decline in GDP in 2009, impacted by the global financial crisis in the second half of 2008. However, since 2010, its economy has been back on the recovery path, driven largely by steel exports—the country’s major industry—with an upturn in external demand. Under these circumstances, this credit line supports the country’s sustainable growth by developing infrastructure, improving the environment and creating business opportunities contributing to the promotion of industrial development.
In collaboration with Ukreximbank, JBIC intends to support greater business opportunities for Japanese firms in this country. In particular, by supporting exports related to renewable energy and the natural resource sector, JBIC is pursuing the expansion of overseas markets in the infrastructure sector and strengthening the international competitiveness of Japanese firms.
- *1An export credit line is a form of export credit in which JBIC makes a commitment of the maximum amount of credit to be extended to its client (foreign banks or other entities) to finance exports of machinery, equipment and services from Japan.