- Region: Others
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
March 15, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement for offering a credit line for supporting mid-tier enterprises as well as small and medium sized enterprises (collectively "SMEs") for funding their overseas business activities with Sumitomo Mitsui Banking Corporation (SMBC). The credit line amounts up to 50 million U.S. dollars.
- This credit line provides mid- and long-term funds in U.S. dollars to SMEs and their overseas subsidiaries through SMBC by offering a credit line for supporting Japanese SMEs for funding their overseas business activities. The two-step loan for Japanese financial institutions supporting overseas business deployment of SMEs is a newly added operation by the Japan Bank for International Cooperation Act, which was promulgated and came into effect on May 2, 2011.
- In recent years, the speed of economic globalization has accelerated more than ever and emerging countries, including those in Asia, have achieved rapid economic growth. Given these conditions, many Japanese companies, including SMEs, are speeding up their overseas business activities in order to capture the expanding overseas demand.
- Given the circumstances, JBIC will provide adequate and rapid response to their financial needs for overseas business activities by extending mid- and long-term funds in U.S. dollars through SMBC which has a wide range of business relationships with Japanese SMEs.
- JBIC will continue to support overseas business activities by Japanese companies, including SMEs, by collaborating with Japanese private financial institutions in light of maintaining and improving the international competitiveness of Japanese industries.