General Agreement for Credit Line with Joyo Bank
Supporting Mid-Tier Enterprises and SMEs Overseas Business Deployment in Collaboration with Regional Financial Institution
- Region: Others
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a general agreement with The Joyo Bank, Ltd. (Joyo Bank; President: Kazuyoshi Terakado) for a credit line to support the overseas business deployment of mid-tier enterprises and small and medium-sized enterprises (SMEs). The credit line amount is up to USD20 million.
This credit line is intended to provide medium and long-term funds in U.S. dollars to mid-tier enterprises and SMEs and their overseas subsidiaries through Joyo Bank, thereby supporting Japanese mid-tier enterprises and SMEs in funding their overseas business deployment in developing countries.
Against the backdrop of recent rapid economic globalization and the thriving economies in emerging countries, such as those in the Asian region, many Japanese companies, including mid-tier enterprises and SMEs, are implementing foreign direct investment in order to capture the expanding overseas demand. The need for funding in U.S. dollars is therefore increasing at the same time.
In response to these circumstances, JBIC will provide an adequate and timely response to their financing needs for overseas business deployment by extending medium and long-term funds in U.S. dollars through Joyo Bank. The bank, with its main business base in Ibaraki Prefecture, has a wide range of business relationships with Japanese mid-tier enterprises and SMEs, and actively supports their overseas business development.
- As Japan’s policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, by collaborating with private financial institutions to maintain and strengthen the international competitiveness of Japanese industries.