- Region: Asia
- Marine and Aerospace
- Export Loans
October 3, 2011
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1, jointly with a private financial institution, signed on September 30 a buyer's credit agreement for ship export in the aggregate of up to about 570 million Japanese yen, with Mundra Port and Special Economic Zone Limited (MPSEZ) in the Adani Group, a growing conglomerate in India. This loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd.(lead arranger).
- The loan will finance the purchase by MPSEZ of a tugboat built by Kanagawa Dockyard Co., Ltd. (located in Hyogo Ward, Kobe City) and exported by Kowa Company, Ltd. It will thus support the export of a ship built in the domestic shipyard, while helping maintain and improve the international competitiveness of the Japanese shipbuilding industry.
- JBIC will continue to actively support the export of ships built in domestic shipyards that perform a significant role in the regional economy, including employment creation in the associated industries, through cofinancing with private financial institutions.