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General Agreement for Credit Line with Singaporean Subsidiary of Sumitomo Mitsui Trust Panasonic Finance
Supporting Overseas Business Deployment of SMEs by Promoting Finance Lease

  • Region: Asia
  • Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
  • Others
  • Overseas Investment Loans

October 5, 2015
  1. The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a general agreement for establishing an investment credit line totaling up to USD21 million (JBIC portion) with Sumitomo Mitsui Trust Leasing (Singapore) Pte. Ltd. (SMTLS), a Singaporean subsidiary of Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. to support the overseas business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs). The credit line is cofinanced with private financial institutions, bringing the total cofinancing amount to USD30 million.
     
  2. This agreement is intended to establish a credit line to secure funding from SMTLS in lease financing for the facilities required by overseas subsidiaries of Japanese mid-tier enterprises and SMEs to conduct their businesses in especially Vietnam and other emerging countries.
     
  3. In recent years, against the background of economic growth in Vietnam, Japanese companies have been accelerating their business expansion, with mid-tier enterprises and SMEs also showing a growing intention to invest in the country. As a result, interest and demand for finance leases for capital investment by Japanese mid-tier enterprises and SMEs are growing.
     
  4. In response to this development, JBIC intends to give appropriate and timely support to the overseas business deployment of these mid-tier enterprises and SMEs by extending mid and long-term funds in U.S. dollars to and cooperating with SMTLS, which has a wide range of business relationships with Japanese mid-tier enterprises and SMEs.
     
  5. 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 growing markets such as Vietnam by drawing on its various financial facilities and schemes for structuring projects and performing on its risk-assuming function.

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