- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
July 24, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed a loan agreement with PT. TANABE INDONESIA (TI), a company incorporated in Indonesia by Mitsubishi Tanabe Pharma Corporation (Mitsubishi Tanabe Pharma). *1The loan is cofinanced with a private financial institution.
- This loan is intended to provide funds, in Indonesian rupiah and U.S. dollars, which TI needs to build a new plant and renew the related facilities for producing pharmaceuticals in Bandung, West Java in Indonesia.
- Robust economic growth in Indonesia is expected to expand the pharmaceutical product market in the coming years. Mitsubishi Tanabe Pharma intends to strengthen the production capacity of TI, which is an important manufacturing and sales base for the company, and thereby meet increasing demand for pharmaceuticals in Southeast Asia, primarily in Indonesia. This loan supports the business deployment of such a Japanese company in Indonesia with the local currency as well. It will thus contribute to maintaining and improving the international competitiveness of a Japanese pharmaceutical manufacturer.
- As a public financial institution, JBIC will continue to support overseas business development of Japanese companies by drawing on its various financial facilities and schemes, including loans to meet the needs of local currency funds, for structuring projects and performing its risk-assuming function.
- *1 Although the loan agreement was signed on July 12, 2013, the press release was issued today after having completed the related procedures for this Project.