Loan for Crop Protection Products Manufacturing and Sales Business of SUMITOMO CHEMICAL COMPANY in Brazil
Supporting Overseas Business Expansion of Japanese Chemical Manufacturer under the Growth Investment Facility
- Region: Latin America and the Caribbean
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on November 17 a loan agreement amounting to up to USD30 million (JBIC portion) with Sumitomo Chemical Brasil Indústria Química S.A. (SCBIQ), a Brazilian subsidiary of SUMITOMO CHEMICAL COMPANY, LIMITED (SUMITOMO CHEMICAL). The loan is extended under JBIC’s Growth Investment Facility*1
and is co-financed with private financial institutions, bringing the total co-financing amount to USD50 million.
The loan is intended to provide part of the funds necessary for SCBIQ to conduct the business of manufacturing and sales of crop protection products in the Federative Republic of Brazil (Brazil).
The Brazilian crop protection products market, which is the largest in the world, is projected to grow further in line with the growing global demand for food. SUMITOMO CHEMICAL aims to increase its share of the market by enhancing its sales system built in Brazil and launching new fungicides. The loan will support SUMITOMO CHEMICAL’s overseas business expansion, thereby contributing to maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies into growing markets such as Brazil by drawing on its various financial facilities and schemes and performing its risk-assuming function.