Individual Agreement Based on Credit Line for Hyakujushi Bank
Supporting Overseas Business Deployment of Mid-Tier Enterprises and SMEs in Collaboration with Regional Financial Institutions
- Area: Asia
- Manufacturing and Services
- Mid-Tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement in the amount of USD350 thousand (JBIC portion) based on a credit line*1
for supporting the overseas business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) already signed with The Hyakujushi Bank, Ltd.
This individual loan agreement signed under the credit line will provide the funds necessary for the food processing machinery manufacturing and sales business conducted by WATANABE FOODMACH (Hebei) Co., Ltd., a Chinese subsidiary of WATANABE FOODMACH Co., Ltd. (WATANABE FOODMACH; Headquarters: Aichi Prefecture).
The loan under the credit line will flexibly provide, through a Japanese financial institution, long-term foreign currency funds required by the business operations of mid-tier enterprises and SMEs conducted in developing regions, and thus support the overseas business deployment of Japanese mid-tier enterprises and SMEs. These loans will thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries. Furthermore, this loan agreement is in line with the "Global Food Value Chain Strategy" (announced on June 6, 2014) set out by the Japanese government, as it contributes to establishing a high-quality food production system which fully exploits the strengths of Japan.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese mid-tier enterprises and SMEs in collaboration with regional financial institutions in Japan, with a view to maintaining and strengthening the international competitiveness of Japanese industries.
- *1 See Press Release on September 30, 2015.