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Business Performance and Activity for Q3 FY2017

  • Region: Others
  • Others
February 6, 2018

The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) today announced the summary of its business performance and activity in the third quarter (October-December) of FY2017 as outlined below. Details of financial commitment amounts by financial product and service can be found in the PDF files provided in this press release.

Ⅰ.Loans, Equity Participation and Guarantees

1.Financial Commitments
In Q3 FY2017, JBIC approved 25 financial commitments totaling approximately JPY192.8 billion in loans, equity participation and guarantees.

2.Disbursements, Repayments and Outstanding Amounts
Disbursements made by JBIC during Q3 amounted to approximately JPY333.0 billion and repayments received were approximately JPY644.0 billion. As a result, outstanding loans and equity participation totaled approximately JPY14.6179 trillion and outstanding guarantees were approximately JPY2.2676 trillion, with the total outstanding amount and services reaching approximately JPY16.8855 trillion.

Ⅱ.Major Business Activities in Q3 FY2017

1.Financing to energy and natural resources sector

JBIC provided project finance*1 for the construction of Nacala railway and port infrastructure which is needed to transport and export coal produced from the Moatize coal mine in Mozambique. This is the largest loan that JBIC has ever provided to a project in Africa. This project is intended to contribute to securing a stable supply of mineral resources which are vital for Japan.
 

2.Financing Overseas Projects to Maintain or Increase International Competitiveness of Japanese Industries

(1) Supporting Japanese Companies' Participation in Overseas Infrastructure Development
JBIC provided project finance for an onshore wind power generation project in Egypt. This is the first project finance loan that JBIC has offered to a wind power generation project in Africa. Additionally, JBIC, in an effort to assist Japanese companies in structuring projects overseas in the future, signed a Memorandum of Understanding (MOU) with the Overseas Private Investment Corporation (OPIC) of the United States of America to promote potential projects in the sectors of infrastructure, energy and natural resources in the regions of Asia, the Indo-Pacific, the Middle East and Africa.
 

(2) Supporting Overseas Business Deployment of MTEs and SMEs
JBIC approved 16 loans totaling approximately JPY2.6 billion to assist mid-tier enterprises (MTEs) and small and medium-sized enterprises (SMEs) in deploying their businesses outside Japan. These include loans to: i) a Myanmar subsidiary of KEISOKUGIKEN CO., LTD., with headquarters in Hyogo, Japan, which is engaged in building and construction measurement and surveying and ii) a Lao subsidiary of SANKO CONSTRUCTION Co., Ltd., with headquarters in Okayama, Japan, which manufactures and sells concrete products. Additionally, JBIC supported facility procurement by Japanese MTEs and SMEs with overseas operations, through finance leases, according to the investment credit line previously established between JBIC and an Indonesian subsidiary of Sumitomo Mitsui Finance and Leasing Co., Ltd., an Indonesian subsidiary of BOT Lease Co., Ltd., as well as a Thai subsidiary of Mitsubishi UFJ Lease & Finance Company Limited.
 

(3) Providing financing in local currencies*2
JBIC approved two loans in local currencies totaling the equivalent of approximately JPY1.3 billion, including a loan in Mexican peso to a Mexican subsidiary of automobile parts manufacturer Ashimori Industry Co., Ltd.
 

3.Partial acquisition of Samurai bonds

JBIC purchased a portion of privately-placed Samurai bonds issued by the Government of Turkey.
 

Note
  1. *1 
    Project finance is a financing scheme in which repayments for a loan are made solely from the cash flows generated by the project.
  2. *2 
    Local currencies mentioned here refer to currencies other than JPY, USD and Euro.

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