First JBIC Credit Line to Support of Japanese Company Exports to Mongolia

(JBIC, Tokyo, 6 June 2013) The Japan Bank for International Cooperation (JBIC) has signed a general agreement with the Ministry of Economic Development of the Government of Mongolian, offering the first export credit line of the equivalent of 8 billion yen (US$82 million). The credit line is cofinanced with private financial institutions, with Nippon Export and Investment Insurance (NEXI) providing Buyer's Credit Insurance for the portion cofinanced by private financial institutions. It provides for medium- and long-term financing in Japanese yen or U.S. dollars for the purchase of Japanese machinery and equipment by Mongolian local companies.