General Agreement for Credit Line with Shiga 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 on March 16 a general agreement with THE SHIGA BANK, LTD. (SHIGA BANK; President: Yoshio Daido) 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 USD50 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 SHIGA 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 financial needs for overseas business deployment by extending medium and long-term funds in U.S. dollars through SHIGA BANK. The bank, with its main business base in Shiga Prefecture, has a wide range of business relationships with Japanese mid-tier enterprises and SMEs in the Kansai region, 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.