- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on December 16 a loan agreement amounting to up to USD60 million (JBIC portion) with Iharabras S.A. Indústrias Químicas (IHARABRAS), a Brazilian company invested in by multiple Japanese companies such as Nippon Soda Co., Ltd., Kumiai Chemical Industry Co., Ltd., Sumitomo Corporation, Mitsui Chemicals Agro, Inc., Sumitomo Chemical Co., Ltd., Mitsubishi Corporation, and Nissan Chemical. The loan is co-financed with Mizuho Bank, Ltd. and MUFG Bank, Ltd., bringing the total co-financing amount to USD106 million.
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The loan is intended to provide part of the funds necessary for IHARABRAS to conduct the business of manufacturing and sales of crop protection products in Brazil.
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The Brazilian crop protection products market, which is the largest in the world, is projected to grow further in line with the growing global food demand. IHARABRAS aims to increase its share of the market by intermittently enhancing its production capacity and launching new crop protection products. The loan will support the Japanese companies’ overseas business expansion of the crop protection products manufacturing and sales business in Brazil, thereby contributing to maintaining and improving the international competitiveness of Japanese industry.
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As Japan’s policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies into growing markets such as Brazil by drawing on its various financial facilities and schemes.