- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
May 31, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement for offering a credit line, amounting up to 21 million U.S. dollars (JBIC portion) with PT. SMFL Leasing Indonesia (SMFLIN), an Indonesian subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), for supporting overseas business deployment of Japanese mid-tier enterprises as well as small and medium sized enterprises (collectively "SMEs"). The credit line is cofinanced with Sumitomo Mitsui Banking Corporation, which brings the overall cofinancing amount to 30 million U.S. dollars.
- This credit line is intended to provide necessary medium- and long-term lease financing for capital investment by overseas subsidiaries invested by Japanese SMEs and conducting business in Indonesia and other countries, utilizing this credit line offered to SMFLIN.
- In recent years, Indonesia's economy is growing remarkably and Japanese companies are accelerating their business expansion, as well as SMEs' growing interest to invest, in Indonesia. Accordingly, the interest and need of financing leases for capital investment by Japanese SMEs are growing.
- Given the circumstances, JBIC will support appropriately and timely the overseas business deployment of Japanese SMEs by extending mid- and long-term funds in U.S. dollars to SMFLIN, collaborating with SMFL which has a wide range of business relationships with Japanese SMEs.
- JBIC will continue to support overseas business deployment of Japanese companies, including SMEs, by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.