Export Credit Line to Dar Alhai Trading FZE, Dubai, United Arab Emirates
Supporting Export of Construction and Other Machinery by Japanese Companies

• Region: The Middle East
• Machinery and Equipment
• Export Loans

1. The Japan Bank for International Cooperation (JBIC, Governor: MAEDA Tadashi) signed today a loan agreement with Dar Alhai Trading FZE (DAHT) for providing an export credit line^*1 amounting up to JPY3.5 billion (JBIC portion). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to JPY7.0 billion. Nippon Export and Investment Insurance (NEXI) will provide insurance to cover the portion being co-financed by the private financial institution.
     
2. This loan will provide DAHT with the funds to purchase construction and other machinery from Japanese companies.
     
3. DAHT is a private company that imports, sells and leases automobiles, construction machinery and other goods. DAHT has been purchasing construction machinery from Japanese companies and intends to continue to make such purchases moving forward. This loan is to support the sales of construction machinery to DAHT by Japanese companies and thus will contribute to maintaining and improving the international competitiveness of Japanese industry. This is the first loan to a private company in the Emirate of Dubai to be financed by JBIC.
     
4. As Japan's policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in exporting industrial machinery and equipment, and expanding their business in overseas markets, by drawing on its various financial instruments for structuring projects and performing its risk-assuming function.
     

Note

1. *1 
   An export credit line is a form of export financing in which JBIC makes a commitment to provide a maximum amount of credit to be extended to the borrower (foreign banks or other entities) to finance exports of machinery, equipment and services from Japan.