- Region: The Middle East
- Machinery and Equipment
December 4, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on December 3, a memorandum of understanding (MOU) with Yapi ve Kredi Bankasi A.S. (Yapi Kredi), a commercial bank in Turkey, for the purpose of exchanging information about potential export projects in the sector of renewable energy and climate change mitigation in Turkey. This MOU is also aimed at exchanging information about supporting potential export projects involving Japanese machinery and equipment, such as construction machinery to be used for infrastructure development, as well as Japanese companies' business deployment in Turkey and its neighboring countries (in the Middle East, Central Asia and North Africa).
- Prior to the execution of the MOU, JBIC and Yapi Kredi signed on November 14, two general agreements for the purpose of offering the following two credit lines: one provides financing for the purchase of Japanese machinery and equipment in the field of renewable energy and other related sectors, while the other extends loans to local companies in Turkey and its neighboring countries for the purchase of Japanese machinery and equipment, such as construction machinery to be used for infrastructure development*1. The information exchange under this MOU is aimed at the possible utilization of these two credit lines and the expansion of export business involving Japanese companies.
- In recent years, there have been growing expectations on Japanese exports of machinery and equipment to Turkey and its neighboring countries through collaboration between Japanese and Turkish companies, and also on the major role JBIC should play therein. Under these circumstances, there has been growing interest in the business deployment of Japanese companies and facilitation of credit lines in Turkey and its neighboring countries, through the enhancement of the relationship between JBIC and Yapi Kredi.
- JBIC will continue to support Japanese companies' business deployment in collaboration with such foreign financial institutions by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.