Buyer’s Credit to Yapı Kredi Finansal Kiralama A.O. of Turkey
Supporting Export of Japanese Company’s Port Container Cranes to Turkey
- Region: The Middle East
- Machinery and Equipment
- Export Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on June 16 a buyer's credit (export loan) agreement amounting to up to approximately USD14 million (JBIC portion) with Turkish company Yapı Kredi Finansal Kiralama A.O. (YKL). The loan is co-financed with the Tokyo Branch of BNP Paribas S.A., bringing the total co-financing amount to approximately USD23 million. Nippon Export and Investment Insurance (NEXI) will provide the insurance for the loan by the private financial institution.
The loan is intended to provide the necessary funds, through YKL, for Yılport Holding A.Ş., another Turkish company that operates ports in Turkey, to purchase additional four port container cranes from Mitsui E&S Machinery Co., Ltd. for the port of Gemlik, Turkey.
The loan, which will support the Japanese company's export, will serve to improve the Turkish port infrastructure and to create business opportunities for the Japanese companies in the Turkish port industry, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan's policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the export of goods such as infrastructure equipment and in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.