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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on February 29th two loan agreements in the amount of up to USD5,600 thousand (JBIC portion) and JPY1,050 million (JBIC portion), with Nippon Refine Co., Ltd. (Nippon Refine; Headquarters: Gifu Prefecture; President & Representative Director: Yasuhito Kawase) respectively. The loans are cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the total cofinancing amounts to USD8,000 thousand and JPY1,500 million, respectively.
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These loans are intended to finance the organic solvent purification and sales business conducted by Hefei Refine Co., Ltd. (Hefei Refine), a Chinese subsidiary of Nippon Refine, in the city of Hefei in China.
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Nippon Refine is a small and medium-sized enterprise (SME) engaged in the used organic solvent purification and sales business, as well as the environmental equipment engineering business. In February 2015, Nippon Refine established a new subsidiary, Hefei Refine in China, where demand for solvent recycling is increasing due to growing environmental awareness. By securing a new production site through Hefei Refine, Nippon Refine seeks to further develop the Chinese market. Through the support of such overseas business deployment of Nippon Refine, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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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, in markets such as China, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
